With the federal bailout of the financial institutions looking like only hours away, we need to look at the physical damage that these crashes have caused on the market and the country as a whole. Throwing money at the problem may not be the best answer, but I'm guessing that is all we are going to get.
If you have ever been in a serious car accident then you know that you usually have to go through physical therapy to get back to 100%. It is never as simple as getting home calling the insurance company asking for a large check and then when you get it, you are all better. (Unless there is fraud involved.)
The key to getting things back to normal is time, money, and physical therapy. The time comes when you are going to go through physical therapy and the money is there to cover the time lost at work during therapy.
So, how does this apply to the financial markets today? Let's look at this as a car accident and the financial houses are the ones injured. We can throw money at the problem, but that won't fix the real problem that happened during the accident. These financial houses need physical therapy, and in time the market will fix itself. Do they need the money? Yes, I'm not denying that, but they need more than that in order to succeed.
A few years ago the federal government threw money at the railroads in order to keep them going, but that didn't help them fix their situation. Today they are right back on the verge of bankruptcy. Then a couple years ago they did it again with the airlines and now the airlines are cutting jobs and charging for extra luggage and saying that within 2 years they could be out of business if things don't change.
You see, all we did is throw money at the problem instead of help them with physical therapy to get to the root of the problem. So let's get together and get these institutions some physical therapy and help the country get back to 100% sooner rather than later.
Todd Clark - broker
Kastings & Associates
Phone: (503)524-9494
Fax: (503)622-8739
Photo courtesy of Lusi
Todd Clark and the Friendly Home Team
Knipe Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)622-8739
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
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There must be great thinking in the later hours. I feel smarter with every blog I read. Even mine.