Monday, September 29, 2008

A Failure of Leadership

Moving away from an analysis of the state of Michigan's economic picture I have watched in amazement as our Federal Government fails to effectively take responsible action on an economic package designed to stabilize the financial system.

Clearly there are too many legislators that have law backgrounds as opposed to economic backgrounds. The rhetoric that we're "bailing out" Wall Street fails to note the following:

the value of our,
  • 401-k,
  • College savings,
  • Pensions (for those that have them)
  • Need for credit (both mortgage, credit card, and business),
  • Our homes,
is all interconnected.

Wall Street is Main Street. The value of my investments is without question tied to what happens on Wall Street and somehow people have failed to understand, accept, or process this basic fact. I can only hope common sense prevails (but that's a very rare commodity in Washington D.C.).

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