I found some interesting articles from both perspectives of the crisis. Who can we believe or trust anymore? It seems every financial advisor has a differing opinion, and leaving the repairing of our economy in the hands of the very people who destroyed it is insane.
SO WHO DO WE TRUST, AND WHAT DO WE DO? It's time to stop playing politics, get your shit together and work for America people! And we as Americans need to be as informed as we possibly can be on the crisis, and the upcoming election season. It does matter, more than ever.
http://www.time.com/time/business/article/0,8599,1845209,00.html?cnn=yes
http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/
http://ac360.blogs.cnn.com/2008/09/29/recovering-from-todays-disgrace/
http://www.time.com/time/nation/article/0,8599,1845655,00.html?cnn=yes
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Good ol' Lou Dobbs
http://www.cnn.com/2008/US/09/30/dobbs.qa/index.html?iref=topnews
cut and paste into your browser if you want to read this.
OK, here are many of my thoughts. I don't like these buyout plans anymore than anyone else but I don't see any alternative. We have all already lost way more than the cost of the buyouts. And as long as there is greed motivating people we will need regulation. I don't mean to condemn business or government, I still think we live in a good system. But I trust government more than I trust business so I prefer regulation. Especially with conditions. Conditions that would return the money to the taxpayers over time. Conditions that would NOT reward the lenders, the investers and, in many cases, the mortgage holders who caused this mess. Conditions that would NOT reward the CEOS who ran their companies into the ground and received millions in compensation. Conditions that would NOT allow the same people to be in charge. And above all, I want regula tions that would NOT allow this to ever, ever happen again. You know what else? This problem is so deep, that it is not just the trillions of $$$ lost. This whole mess will divert our resources and our time away from what we really need to address.
We need to be able to focus on energy, health insurance, education, energy, jobs, ending war, did I mention energy? Alternative energy, renewable energy, hydrogen powered vehicles and energy conservation need to be our focus. Drilling for more oil is not the long term solution. We need a president with vision, leaders in business and government with vision... We need to kick the oil habit.
We need to live cleaner, healthier, "greener". We need affordable health insurance. We need affordable education. Hell, we need to require graduation from high school! We need to work. We may even need to require people out of high school to serve two years in a civilian army doing community work, conservation work, volunteering... serving their country, growing as young adults, learning lifetime skills. There does not need to be such a rush for young people to go onto college, trade school or make a living right out of high school. We need to invest in them and they need to invest in their country and in themselves.
We also need to realize we can't win the war against terrorism with violence. I support our troops, I was in favor of going into Afghanistan. I wasn't convinced we should go into Iraq even though I believe Saddam Hussein was an evil man. Now, I think Iraq is improving but I do not believe we can just pull out, and inspite of our efforts, the terrorists have gotten stronger worldwide. The only way to end terror is to end injustice, end poverty, end dispair. And we can't do this alone. We need all nations to unite and make the world a better place. Again, we need leaders with vision and we need our own people to be secure and comfortable in their own lives so they can care about others.
I believe we can and will survive this crisis. It is my hope that we elect leaders with vision. It is my hope that we will address my concerns. I believe that a fair and equitable "buyout' is a necessary evil that beats the alternative of huge financial losses, loss of affordable credit, loss of jobs, loss of... everything.
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