Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 2 (2 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Article Stats   No comments

General News

MORE BIG CORPS ON AUCTION BLOCK;BUSH WON'T ADDRESS ANXIOUS NATION; REPUBLICANS RUNNING AWAY FROM BRAND NAME

By (about the author)     Permalink       (Page 2 of 2 pages)
Related Topic(s): ; ; ; ; ; ; ; ; ; ; (more...) ; ; ; ; ; , Add Tags  (less...) Add to My Group(s)

View Ratings | Rate It

opednews.com

The lack of a reliable and predictable mechanism for the orderly liquidation of failing US companies seems to have accelerated, not eased, investor nervousness. Without an orderly, predictable, and rational  process for liquidating failed businesses, volatility will only worsen.

A functioning, rational regulatory structure, adapted to new global finance realities and competent to identify risks before they threaten financial foundations may be a neccesary condition for the return of market stability.

And some entity constructed to assess, evaluate, and regulate new financial instruments---including their legality and potential for abuse---in real time might prevent future interruptions.

Meanwhile, many global financiers and investors are afraid of who might be next. That question seemed to be answered early this evening with the news that both Morgan Stanley and Washington Mutual are on the shoals, unable to withstand the headwinds of this week's global financial storm. 

Foreign spectators wondered when the US government might address the underlying systemic roots of the current financial collapse: dropping US industrial output, rising under- and unemployment, mass layoffs, instability in housing values, poor regulatory structures, lagging wages, widening gaps between the very rich and poor, middle class decline, the outsourcing of jobs, wide inequities in the educational system, and lack of comprehensive medical and dental insurance for many American workers.

US President George W. Bush is holed up in the White House apparently refusing to address the American public in a prime time television address as is customary in times of crisis.

Moreover Republican candidates across the slate are refusing to identify with their own party---the so-called ideological champions of capitalism, entrepreneurship, free markets, small government, and less regulation---in an extraordinary attempt to dissociate themselves from their own brand name.

Inaction on the fundamentals likely means more financial chaos. Asian markets remained down across the board on Thursday indicating that the US and other governments intervention to stabilize markets have either been too little, too late or have failed to restore investor confidence.

That extreme volatility apparently continues with the latest news concerning the economic sickness of two more gargantuan American financial institutions: Morgan Stanley and Washington Mutual.

Those issues, it appears, can not even be contemplated before the November US presidential election, and the inauguration of a new American leader in 2009.

Next Page  1  |  2

 

http://www.blogger.com/profile/4236373

Constance Lavender is an HIV-Positive pseudonymous freelance e-journalist from a little isle off the coast of Jersey; New Jersey, that is...

In the Best spirit of Silence Dogood and Benj. Franklin, Ms. Lavender believes that a free (more...)
 

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Author Contact Editor View Authors' Articles

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Heterosexism and the African American Community

Stay Tuned...NJ Corruption Probe Extended To Other States

Deviating from the Norm: A Deviant Analysis of Kate Chopin's The Awakening as Coming Out Story

The Hero Myth in Maya Art & Culture

The Hero Cycle in Maya Myth & Culture

Now that Wall Street has been bailed out, where are the rest of US going?

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
No comments