The Next Administration’s Economy – Wall Street Column – Jesse Eisinger – Portfolio.com
by Tom on April 14, 2008
in Uncategorized
The Next Administration’s Economy – Wall Street Column – Jesse Eisinger – Portfolio.com
From the moment the next president takes office, one issue will overwhelm all others: the American financial crisis. The Federal Reserve has been taking extraordinary measures for more than half a year to contain the spreading misery, including recently brokering the bailout of Bear Stearns. But the damage continues to spread.Is it that bad? Well, yes. The threat now is to the foundation of our economic structure. Faith in the financial system is crumbling. Because of the scope of the problem, dealing with its aftermath will dominate the next president’s entire agenda.
I read the entire article and I’ve got two thoughts about it…..
1. I hope he’s wrong about how difficult things are going to get, but I’m afraid he’s not.
2. I think he’s right that most people don’t have a clue, especially the politicians, on what to do about.
