Bail outs, bail outs and even more bail outs. Should we let something fail?
Remember when Alan Greenspan was God? We hung on his every word. He got us over several bubble bursts. We loved him. He was the Go To Man to get us out of trouble.
I’ve just heard the Prime Minister of Australia describe the credit freeze as the worst financial crisis of our lifetime. Where’s Alan when you need him?
Actually we’re glad he’s gone. It is notright or appropriate that we keep bailing the water out of the very leaky boat we’re in. Because we do not enable the system to correct itself. We continually postpone the day of reckoning without fixing the system; without getting back to the fundamentals.
