"Watch your thoughts; they become words. Watch your words; they become actions. Watch your actions; they become habits. Watch your habits; they become character. Watch your character; it becomes your destiny." -- unknown

Insanity is doing the same thing over and over and expecting different results - Albert Einstein

Three fiscal thoughts...
September 22, 2008 - 6:52 pm

A couple really..

1) If you really want to pin the blame on someone, Greenspan is the man. It was his leadership/actions/non-actions that created the financial bubble.

2) Another good candidate for blame is Congress. It has oversight of Fannie & Freddie... and you can easily say that the Wall Street tumbling is directly due to Fannie & Freddie exploding. All the investment banks are just collateral damage.

3) Uhm... I forget the third... and it was really the third I wanted to talk about.

Oh! Right... There are quite a few rather savvy financial minds floating around this country.. why aren't they more involved in what we do? By 'we' I mean the government.

Let's be honest... anyone who runs the Fed or the SEC or any other agency is bound by various political ropes and chains. There are things that can't be done or said... or one tends to lose one's job. Would that people were so noble as to do the right thing and get canned, but well... that's just not human nature.

I'll be quite curious how the revisionist history plays this out.

Well, I would be curious if I'd remember 10 years down the road to think about revisionist history.