Here are links to two articles about finance and Wall Street from the past few days that may prove useful in considering who to pick for the coming election. The first, an editorial in the Investors Business Daily, has an interesting take on how troubles began in the mortgage market, with a particular look at Freddie and Fannie. The second, from the Wall Street Journal, reminds us that for things to get better market wise, they must be allowed to get worse. Both to some degree or another remind me of Reagan's quote: "The nine most terrifying words in the English language are: 'I'm from the government and I'm here to help.'"
Update: The government steps in to take over AIG and an answer to the question, why haven't hedge funds suffered to the same extent?
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3 comments:
I'm with Reagan on this one. When he was President, those *were* the nine most terrifying words in the English language! And they've been even more terrifying of late.
Ha, a pretty good argument for a smaller more limited government I think, less chance for the nutty ones to stir the pot. Though even then little could protect us from mike openers like this one:
"My fellow Americans. I'm pleased to announce that I've signed legislation outlawing the Soviet Union. We begin bombing in five minutes."
As we know Republicans are mostly against 'nationalization' which seems to be taking place with the bailout of AIG by the Federal Reserve after the collapse of Lehman Brothers and Merrel Lynch. It is true though that the stock market will eventually since all things that go up eventually go down and then rebound; thus a return back to some form of normalcy in due time but as far as I can see, that will not be happening any time soon because the stock market is still morphed from the events seven years ago on 9/11.
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