Friday, September 19, 2008

Wisdom in a time of chaos

As I sit down with my popcorn and Sierra Nevada readying myself to watch the complete season 2 of Dexter in one night, I find myself drawn back to my blog to blog about the current state of our financial crisis and the wisdom I've gained in the past 48 hours.
Many are in complete shock about the state of our financial markets and the drastic measures that the administration has taken. And while some may understand what is truly at play, most do not and watch continuous news coverage of this crisis and how serious the situation is and assume or are told that the current administration and the evil republicans and greedy corporations are to blame for the current state.
Some of this is true. I believe that congress is largely to blame for the current situation we find ourselves in, but as much as the media would like this to be a republican issue, the truth of the matter is that each party is equally responsible for their inaction to prevent such a crisis in our economy. They both take plenty of money from the lobbyist to turn their heads to the issues, (and by the way over the past 20 years of lobbyist payments from now debunk firms, the two largest recipients of $$$ were DEMOCRAT Chris Dodd (who by the way heads the banking committee, and BARAK OBAMA). Does anyone else find it interesting that over 20 years of giving money to congress, that Obama was the #2 recipient and he has only been in the senate for 3 years.....
Anyway, I digress.
The wisdom that I gained is that Congress with the lowest approval rating ever, INCLUDING Bush, adjourned to campaign for their re-elections rather than addressing the current crisis, some lawmakers even commented that they did not know what to do. Do you know who did???
That rascally George Bush, who certainly will be vilified as the one person responsible for this situation as with pretty much every other thing that goes wrong in the nation and the world. You know, my popcorn is slightly burned, I'll bet George W. Bush is to blame.
In reality, GWB stuck around to work with his treasury secretary and the head of the federal reserve to develop a plan that will essentially settle our economy in the short run. And how long did it take???? Basically 24 hours. And why so quickly, because these men are financially savvy, understand what is at stake and are not concerned about getting re-elected.
However, with the quick turnaround of the economic plan, don't expect it to be approved without more pork barrel attachments by all involved. I am assuming that congress will do what it always does and only approve with a 'me too' attachment.
The whole situation is a shame, and it certainly will get worse as the election gets closer. This bailout of the financial markets will be deemed as a bail out by the republicans of their wealthy cronies rather than a drastic measure to stabilize a financial institution that has all of our money tied into it. From the uber wealthy to the teacher and fire fighters in each of our communities. Rather than trying to act in a way that is bipartisan and helpful, the politics as usual class warfare will be enacted again with little to none of the community understanding what this bailout of the market is intended to do, save us all.

No comments: