700 pages of smoke and mirrors
Hank Paulson sounded the panic alarm that the universe would implode if U.S. taxpayers didn't open their wallets and throw billions of dollars to them to save the banks. Wall Street managed not only to not implode but to go about business as usual despite another bank failure on an extremely large scale. Perhaps the doom Hank is so afraid of is driven not so much by the problem at hand, but by the fact that he and Bernanke and Bush failed to recognize a problem until it punched them in the face. With that much stress on them, it's probably too much to ask that they create a responsible, long-term strategic plan that can help get our economy back on the road to recovery rather than escalate the cycle of slash, burn, and panic they have been proponents of for the past year. We, the taxpayers, must put a stop to the hysteria and demand responsiveness from our elected officials - we must not let them force another exorbitant, costly, ineffective and half-baked "plan" down our throats.
The Housing and Economic Recovery Act that we will be paying for forever is little but 700 pages of smoke and mirrors - at what point did the same little crew suddenly see the light and come up with some viable solutions? The credibility of Paulson, Bernanke and Bush has crumbled into negative territory about equal to the current deficit - let's not be forced to pay for more of their ineffectiveness until they can create a plan that truly provides long term solutions and calls for corporate accountability without bleeding the taxpayer dry - because many of us have nothing left to give - they've taken it all away and thrown it down the black hole of their fiscal irresponsibility.
Kathe Doremus
Winfield