Wednesday, September 24, 2008

It Feels Like Forever......

.......since I updated this spot. But it's only been a couple of days. Looks like not much has changed, though. Markets are still down and the Govt. is still debating a bail out. While I've been locked away in meetings at work, our leaders have been locked away in indecision. In a way, that's good. Enough people have written to their Congressmen/women, that they didn't dare rush in and do something stupid........yet.

There are alternatives to a Bail Out. One is a temporary lifting of the Mark to Market portions of Sarbanes Oxley and one would be to extend FHA insurance to the subprime loans. Each would cost a fraction of what the Bail Out will cost. It should be a no brainer, but since Washington is filled with big spenders and socialists, the no brainer answer is not the most attractive to many of them. Both less expensive solutions would result in less control than Washington wants.

In the meantime, it's important for ordinary Americans not to panic. Go to work, leave your 401k alone, pay your bills, trust God.