Clear As Mud

Treasury Secretary Timothy Geithner gave an address today on the plan to help credit markets. Our economic strength is derived from the makers and the doers of the countries. Banks are essential to these people. This system of banks provided the necessary capital and credit that allows for companies to be built around an idea. Many banks are reducing spending which makes credit rates struggle. The financial system is currently working against progression.

There were systematic failures within our system of checks and balances. The dramatic failures of large companies caused investors to pull back. The spectacle of tax relief to those vary companies that caused this catastrophe added to skepticism of the American people in regards to it leaders.

Policy has to be comprehensive and forceful. Governments applied the brakes too early; the plans must be followed through with. Government has to allow the public to see the impact of their investment. We must send a clear message to the world that we will sustain the financial system.

Tax payers will be able to see. See the effect of the government’s investments. See the actions of business executives with the how they spend the money given them from tax payers. This will all be available on the government’s website

The success of our financial stability plan depends on the cooperation of the nation and even globally.

This strategy will involve risk and will take time but it will work if we hold to the plan. There will be future times that will be worse and uneven progress will exist but things will get better.

Doug listened to that and thought where was the inspiration! How do I digest all of that? There was a lot of financial speech, but where was the clarity? Some of this was a clear as mud. And Geithner looked so scared. A gifted leader should recognize that the problem is huge. The only thing to fear is fear itself.

If there is anything that we have learned it is that we need to act quickly! This is the time to be aggressive. The financial markets are not responding to this well at all.

Caller Trent told that the overall gist of the speech was that we are going to use your money to try a bunch of different things. Doug felt that if President Bush hadn’t stepped in when he did then this could have been much worse. The free market system could take care of this but at what cost?

Caller Richard told that the sad part is that the Obama campaign had painted Wall Street with a black brush and told that all the problems are because of them.