I don't claim to know what exactly would be the best solution to this mess, but something has to be done to ease the credit crunch or our economy is SOL..
When middle America sees job losses escalating, their life savings disappearing and retirement plans melting away, there's going to be real anger that hasn't been seen in this country in a long time.
The blame game will sort itself out, and there's plenty to go around, primarily, IMO, the political whores in both parties, bought and paid for by the various "interest" groups du jour.
Maybe punishing Wall Street sounds good on a gut level, but cutting off your nose to spite your face is more than stupid. If Wall Street gets killed, then our economy gets killed. No capital + no credit = no economy.
More debt is bad, as a taxpayer, I hate the thought. Hello more inflation. But doing nothing to get credit flowing again would be much worse, IMO. Those pandering nitwits in DC had better get this right... |
