Tuesday, September 30, 2008

Lemming Alert in D.C.

So let me see if I understand this. We have a President with the lowest approval rating in recent history, and we encounter a financial problem. He creates a bailout plan and the Congress tries to move in lock step to it even though they have expressed no confidence in him or his party. His own party balks and nothing happens.

Markets rebound a little the next day, and in true free market fashion when a void is created someone or something creates innovative instruments to fill that void. At least in the short term it looks like the panic was just that and the lemmings in D.C. tried to walk off the cliff. Time will tell here but perhaps with that time we can look at this problem and come up with a basket of options that will be flexible, useful and not further bankrupt the American taxpayer.

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