“incompetence, duplicity, feckless stupidity “
please stop adding to the panic by piling on like that.
Bear markets and cycles happen even when the leaders are on the ball. Was Reagan called names in 1987?
BTW, I wanted Romney too, knowing that the economy would be the real issue.
Panics are based on emotion. The emotion here is seen the worst in hedge funds - the redemption letters are falling on them, their margin lines are being pulled, all asset classes are falling. That’s where the panic comes from.
What I said is a statement of fact: Bush couldn’t lead an incontinent five year old in the general direction of a bathroom. He didn’t deal with the problem when it was easily seen before it reached a crisis. He has allowed Paulson to buffalo the Congress, and he’s allowing Paulson to turn over the entire US Treasury to Goldman Sachs.
Reagan had nothing to do with the ‘87 crash. Zippo.
Bush, in his desire to have an “ownership society” and going soft on illegal aliens, helped create a situation where mortgage defaults were going to go up. By appointing a hack like Paulson, we’re destroying confidence in the Treasury because it is so readily apparent that Paulson is self-dealing and protecting Goldman.
Bush has been utterly incompetent on this issue for 18 months. He shows no inclination to get smart any time soon.