“Confidence in Crisis?”

Add comment October 10th, 2008

10 October 2008

I watched the President’s address to the nation this morning; his intention to comfort and assure the American people failed.  I was not assured because he did not present an aura of confidence nor did he seem convinced that the proposed steps would be successful.

Why would you form an enconomic team comprised of Secretary of the Treasury, Paulsen; Federal Reserve Chairman, Benejamin Bernake; SEC Chairman Christopher Cox; FDIC, Chairman Shelia C. Bair.

Aren’t these the same individuals who were responsible for oversight of the institutions which, in large part, created the current economic crisis?

I would rather see the $700 billion “bail out package” dispersed among those middle and under class citizens who are suffering in the midst of this mortgage meltdown.  This would allow them to met their mortgage payments also keep small business solvent.  these individuals, in turn, would avoid contributing to “bad debt” for loan institutions and banks.  The President and the Congress want the American people to solve the crisis with taxpayer dollars.  Why not a bottom up approach to stimulate the market?

 

Dyanna Chandler