"hk" wrote in message
...
Eisboch wrote:
wrote in message
...

It isn't just Congress, it's us. We have a Governor here in NJ, who is
trying to fix our budget mess. Everybody is squawking. They all want
the other guy's pork to be cut, not theirs. We are all feeding at the
trough.

Yup. And people who bought houses with interest only loans thinking they
could "flip" it in a couple of years at a big profit are now blaming Bush
for the mess they are in.

It could have just as easily been Clinton at the helm. People like to
blame everyone else for their own screw-ups.


Eisboch

More than a year ago, the financial sector was issuing very serious
warnings about the problems of these sorts of loans, along with the
problems of the sales of subprime mortgage instruments. A more engaged
administration might have expressed enough interest and concern to see if
something needed to be done. Being "cheerleader in chief" isn't enough
when the economy is heading into the crapper.


The POTUS isn't a babysitter for our personal lives and investments. Or at
least he/she shouldn't be. In a free society, adults are responsible to
research risks, weigh the advice of experts and be responsible for their
choices.

If those collective choices lead to a significant risk to the *US* financial
structure as a whole, then the POTUS should act, as Bush did this weekend,
supporting the sale of Bear Stearns.

Eisboch