Just one comment:
NOBODY knows how to fix this.
McCain puts out some ideas that may or may not be useful, while Obama speaks very generally (doesn’t he always?) and says he wants to wait until the correct solution is more clear (meaning he doesn’t have a clue, either). Each of them snipes at the other, uselessly.
The Democrats see crisis as an opportunity – every time. I’m finding that a bit tiresome. Whatever problem comes along, the Democrats use it to make hay.
The same is probably generally true of whichever party does not control the White House. But for the last eight years, I’ve watched this spin on every crisis that came along – the Democrats blaming it on Bush, or the Republicans. I’m about sick of the blame game.
So let’s be clear about this. EVERYBODY involved shares some of the blame for this crisis. EVERY single person who took out a mortgage loan, knowing that they might not be able to make the payments when the rates went up, is at fault. EVERY single banker that offered such a loan is at fault. And EVERY single money-man in the chain of command from the very top of Fannie Mae and company is at fault. And ALL those who took home millions in salaries at the top of those companies is at fault. And our government (ALL of it – both parties) is at fault for not providing sufficient oversight to prevent a problem.
(Noting here that Bush tried to provide it five years ago and was blocked by Democrats; and McCain tried to provide that oversight just two years ago, and was blocked by Democrats; and Obama did NOTHING). I think that’s worth noting.
So, now that we’re here, we’ve got a mess. How do we fix it?
I sure hope we get lucky, since the government WILL act; wisely or not, we will all see.