Our stock market prices continue to fall despite the media's announcement of a 700 billion dollar government bailout on Wall Street. It seems the attitude there is still positive though, even while Mr. Dow Jones goes on a diet. Because fear is the presiding emotion, investors are making snap decisions with primarily their best interest in mind. Who will deliver the goods and how will it get split up?
Hundreds of billions of dollars is a lot of money. Who has the ability to oversee an operation like this? Not only that but what implications will arise with a 700 billion dollar governmental rescue mission? Becuase this is a huge operation I have no control over, and the result will have substantial consequence on my livelihood, I’m scared.
Perhaps the most startling aspect in the latest collapse of Wall Street is that reputable financial analysts’ have only mustered a murky digestion of the various erroneous transpondencies that occurred within the banks.
And the thing is; there isn’t enough time to do a full investigation before reactionary decisions are made! In this volatile economy every minute counts. What's resulting is a blind sprint to a unknown finish line. With haste comes lack of attention to detail.
Is throwing billions of government dollars at this problem really going to fix it -- or will it be just a temporarily bandage. Remember when the Bush administration injected that proposed lucrative booster shot into the consumer’s wallet earlier this year? Did that actually work at all?
or even a little bit...
While I appreciate our government’s enthusiasm and commitment, I sincerely hope employees at the Securities and Exchange Commission aren’t taking their lunch breaks!
Monday, September 22, 2008
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