What’s the Rush to Bailout?

I’m not questioning the need or the urgency for a bailout. I’m merely musing that a good plan takes time to develop, discuss, examine and execute. Why don’t we have more time?
At the very least we’ve had since IndyMac’s takeover in July or Bear Stearns’ March emergency loan. That would have been the time for the government to start working on a “plan”. We could even have listened to economists last year, or when Northern Rock failed. Yet we were lulled with claims from leaders and leader-wanna-be, to the tune of “the economy is healthy”, “the fundamentals are strong”… 

The bailout plan sucks. There could be better plans. There is no time though. We’re like the aircraft that burned through its reserve fuel because the pilot kept saying, we don’t need to divert, we have plenty of fuel, and now, on fumes, we only have a rocky terrain to crash-land on. The plane will be damaged. Any hopes of a subsequent takeoff are slim. Passengers may be injured. (Oddly, the pilot may parachute out early and get to fly another plane.)

Our leaders are supposed to be on the lookout, not sugar coating or force-feeding us antidepressants. American Ingenuity could have saved us.

With two wars, a failing economy, an angrily divided citizenry, no financial reserves, a reinvigorated terrorist group, and more troubles, the next president will have quite the Herculean challenge.

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~ by mz on September 30, 2008.

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