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I believe we have problems that need to be addressed, but I also think there are people trying to scare us to death for reasons of their own. I'd like to see some market stabilizing measures such as tax cuts, accounting changes and loans to help ease fears and encourage calm, sensible business decisions. We also need corrective action in Washington regarding CRA, Fannie and Freddie, and serious independent investigations of fraud and influence peddling.

On the whole, I see this as a necessary process of creative destruction in which inefficient and corrupt organizations need to make way for others to flourish. I'd like to see some softening of the landing to limit collateral damage, but I truly think if America leads with courage and if we trust free markets, we'll come out OK on the other side. It's time we got back to the business of innovation, production, and honest work. We have always done this well in America. When I look at the potential for robotics, medical advances, nanotechnology, energy generation and transmission, transportation and energy-efficient construction, I see a bright future. We need to get this easy money, hyperfinance culture behind us.