Sorda, I certainly see your point, but I think I'm thinking about it in different way. You've got the CEO's, top tier executives, and their boards (speaking of the private companies) making these decisions. I don't think anyone saw this cataclismic failure coming... at least not to the extent we saw. Short selling had a huge impact in the acceleration of the fall, but there isn't really one single event or time that caused this to happen. Sure in hindsight, it was clear, and could've been avoided.
Originally Posted by jinjuku
I was speaking more to the current situation now that what's done is done. If you look at some of the top people who are advising the treasury, the justice department, and the administration, they're not partisans, but just some of the smartest economic minds we have.
What really pissed me off was Pelosi's assertion that there was not reason for them to stay in session. Her quote from the steps of the congressional hall was something to the affect that "it's not our fault... there's nothing we can do." And that was echoed later by Harry Reid and Barney Frank (who coincidently was key in blocking the prior reform bill before this all happened). This isn't a red/blue thing anymore and I'm also pissed that it's playing as political fodder for the Republicans as well. I'd like to see the Republicans spend less time making sure everyone knows who they think is to blame and more time behind the scenes forcing a majority of Congress to put enforceable reform in place. Banning short selling of these key instruments was a major start in my opinion and I'm glad to see a united effort behind that.
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