Will is right about McCain, but W would never help Wall Street willingly.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
I agree. Where are we going to get a good Monte Cristo now? /s
Thanks for hanging tough, GOP.
I’m not going to say that I know the inner workings of the financial mess we find ourselves in. But sometimes people at the top must take the fall for a mismanaged event. Why is is preposterous to say that the leaders of Fannie and Freddie and Lehmann and Merill should be ousted, but not the leader of the organization installed to oversee them. Can someone explain this. It seems the very least we should do. Am I supposed to care that much about this one man? Now, if there’s something we don’t konw about...maybe he tried to do something but was shot down..then I’ll take another look. But as of now, I don’t understand.
I’m not going to say that I know the inner workings of the financial mess we find ourselves in. But sometimes people at the top must take the fall for a mismanaged event. Why is is preposterous to say that the leaders of Fannie and Freddie and Lehmann and Merill should be ousted, but not the leader of the organization installed to oversee them. Can someone explain this. It seems the very least we should do. Am I supposed to care that much about this one man? Now, if there’s something we don’t konw about...maybe he tried to do something but was shot down..then I’ll take another look. But as of now, I don’t understand.
Kramer: “ I’ll tell you who is an attractive man; George Will.”
Jerry: “Really!”
Kramer: “Yeah! He has clean looks, scrubbed and shampooed and....”
Elaine: “He’s smart....”
Kramer: “No, no I don’t find him all that bright.”
Will is correct on the Chris Cox issue. When there is so much ammunition out there against the democrats, why throw someone (who has no oversight) from your own party under the bus? It boggles the mind.
The answer is simple. Not all institutions are created equal. We can let Bennigan’s fail without any serious systemic harm. If we let the financial system just crash instead of organizing a graceful failure, the same people would be complaining about the resultant depression. Sometimes I wonder if our economy has simply gotten too complex for the average person to really understand and we’re left with nothing but rampant emotionalism.
There’s a very simple explanation of why Bennigan’s doesn’t get a bailout - not enough politicians own millions of dollars of stock in THAT company.
He should slam Bush, Cox and the regulators who today gave Franklin Raines a slap on thw wrist. It will remind people of Teddy Roosevelt, the true "original marverick", and will help his cause.
I’m wondering if fiscal conservatism can ever recover from the blow this socialist bailout has dealt.
Similar situation with others that the Wall Street trading Jihadis were going after.
If McCain can live up to what he has promised (tax cuts and reduction of pork barrel) a turnaround should happen soon which will help to pay off these new debts fairly soon.
I for one and tired of George Will’s whining.
Hmmmm... the old saying comes to mind
...you owe the bank $50,000.00 the band owns/controls you...you owe the bank $500,000.000.00 and you own/control the bank.
It a difficult situation wherein many corporations surely want to be assisted/spoon-fed out of their greed. But the example of Bennigan is somewhat narrowed to a few locations (though important to those that lost employment)...now AIG is international in scope and a world market/stability may have been at risk.
Still my understanding that AIG is a 'controlled bankruptcy'...that the Government now controls 79.5% of AIG, sizeable AIG assets are to be liquidated (to repay the loan) and the $85 BILL loan is set forth at 11.5% (a steep rate).
Cox is responsible for seeing that these kinds of meltdowns do not occur. Even if Cox is not responsible for this mess, he needs to be replaced immediately to show the next SEC chairman that he will be held accountable should something like this occur on his watch.
Not firing Cox is simply allowing the buck to be passed. The fact of the matter is that Cox should have tendered his resignation already. Then the ball would be in Bush's court as to whether or not he would accept it and why.
The buck has to stop somewhere.
Cox may be well meaning, but he is swimming with the smartest and highest paid sharks in the world. We just got fleeced while the system is hemmoraging money into private hands.
P.S. and George Will cannot have it both ways.
In the real world at a major Fortune 500 company, Paulson and Cox would both be fired.
Either that or they’d both receive promotions and a chance to work in Zurich... where they could explore new career opportunities and do less damage to the economy.