Sunday, October 5, 2008

Solutions To American Money Woes

Immense respect to Boston Fielder.
I wholeheartedly agree with his take on finding solutions:

Let me get straight to it: if our US government's public representatives cannot balance a fiscal budget year in and year out how in God's many names are we to expect them to have the tools to oversee a multi-billion dollar buyout of these dadgum financially(and ethically) bankrupt investment firms. I was already quite alarmed about the Fannie Mae and Freddie Mac interceptions. How is any Administration or Congress going to keep tabs on CDO(Collateralized debt obligations) when the systems for rating them were put in place by the very companies our tax dollars are projected to bail out. CDOs by their nature are infused with risk and the cash flow that comes from such investments can rarely be estimated or predicted. When an area of finance is so arcane it automatically breeds confusion, fear and a sense of inadequacy in lawmakers.

Read More at URB Alt

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