OH look, good news: McCain Suspends Campaign to Help With Bailout
Link provided by an internet friend, who also posted Obama’s response, but that was in a video format that I’m not much on linking. But you can go find it.
Hurray for senators who do what senators are supposed to do. And here’s to hoping that what they decide to do is sensible. For example if the solution were compatible with *either candidate’s* economic platform, it probably would make more sense than the ‘Hey let’s make the taxpayers buy all those bad mortgages’ method.
(Or maybe we need to keep working on this concept. Could we develop a law where elected officials are required to buy all our bad investments at what price we need to stay solvent? Wow, this could keep the economy rolling and solve the retirement/social security problem all at once. )
Okay, okay, I know there are logical reasons why people think it is important to bail out the mortgage loan industry. I am not persuaded of those reasons, but I’ll quit making fun. I do realize the buyout-rescue impulse is based on genuine concern for the liquidity of the financial markets and all that. Important stuff. St. Matthew pray for us.
