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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: SeachRE who wrote (140833)	10/11/2008 11:40:26 AM
From: geode00	2 Recommendations Read Replies (1) \| Respond to of 173976

IMO Paulson and Bernanke and, of course, Bush still haven't come clean with what is going on which is finally causing people to slow down or stop spending. This will simply exacerbate the situation. On Charlie Rose last night, the WashPost writer said that the remaining heads of Wall Street shouldn't be meeting with each other, they should come down to Washington, get in front of the cameras and (basically) apologize for what they have done. As far as I can tell, they are still complaining about the executive compensation limits in the bail out plan. They created the problem and are dragging their heels even now. Reality still hasn't sunk in there which is a large part of the problem. I'm not sure what they are waiting for but they don't seem to be getting at the crux of the problem which is the gambling on derivatives by the professionals. They have, instead, wasted time on blaming poor people taking out subprime mortgages. They had ample time to address that problem but kept saying (remember Bush's speech) that people were stupid and shouldn't be saved. These idiots could have stopped the worst part of the problem with much less money than they have spent to date by addressing the rampant fraud in the mortage market and forcing the reset to market rates. They still haven't addressed the problem of usurious credit card rates which are making all of these problems worse. At least pessimism is rampant so I vote that we are getting near the end of the panic and getting closer to accepting reality. :)