Can the markets rely on the same Washington and Wall Street crowd to rescue a system they largely helped create?
There is not even agreement on the underlying causes of the problem: is it the mortgage market? Or is it the derivatives business?Is it a housing bubble, or a derivatives bubble? That matters alot.
Some candidates can't even decide whether or not there is a problem, let alone its causes and solution.
Elections are times for thoughtful reflection, hearing ideas, comparing philosophies, and taking stock of the stakes: what's at stake here? Voting is the civic process of acting on thoughtful deliberation. Is it wise to act in the fury of the political season?
The markets were up yesterday, who knows where they will be tomorrow. What the financial system needs is reform: deliberative, meanignful, thoughtful reform. What the markets do not need is just another thumb to stick into the dyke until another hole springs open.
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