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Friday, September 26, 2008
Not Going To Be A Three Legged Stool
Business As Usual
The calvary coming to the rescue as stated by a congressman yesterday must have been riding lame horses.
I woke up to a picture of Connecticut Senator Chris Dodd saying to the TV cameras that there is no deal because the Democrats will not move forward without bipartisan support. His point is that they will not move forward with this bailout proposal as "a three legged stool." That sounds like some real political courage.
In the meantime Washington Mutual has failed and J.P. Morgan has taken over their assets.
Obama and McCain in their stated wish not to politicize the problem are doing exactly that. The debate tonight will probably feature Obama alone on statge pontificating about the fact that McCain knows nothing about the economy and is at part to blame for the crisis. McCain will be in Washington where he has not been for the past two years while campaigning, because his presence is now required in some way to get some kind of bailout bill passed. Oh Brother!!!
At the end of the day (hopefully not the end of the economy and banking system as we know it) it is my belief that something will get done. It always has in the past. The problem here is that irreparable damage is being done to businesses small and large, to our position in the world and to confidence going forward that once some type of compromise plan is put into effect, more will not be needed.
An Open Letter
Not that my opinion is going to sway anyones thoughts in Washington (although if you know anyone please feel free to pass it along), but this charade called bipartisan politics has got to come to an end. Someone has to have the courage to potentially harm their chance at re-election in the next cycle, and step up and get this horror show resolved.
The longer this is allowed to go on, the longer the dire consequences of nothing being done are discussed, the more the world watches and is affected by the goings on, the deeper and more critical this mess is going to get.
Take the damn politics out of this and do what we sent you to Washington to do. Our business, not your business!!!
I am beginning to think that we have some real big problems here.
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