Paulson says no easy answers to mortgage woes?

When is the Bush administration going to wake up and smell the roses? The answer to that question is quite easy, answer: probably never. Especially as their attitude to the War on Iraq is quite well known. Now the United States economy is taking quite a hit and as far as the Bush administration is concerned, the economy is still strong and upbeat.

It is one thing to be optimistic and but totally another to be taking a walk in the clouds. And now, the treasury secretary comes along and tells us all that the recovery from the Mortgage crisis is not going to be easy - but then again this is something that we already know. What really gets me is that now the Bush administration is mouthing what we already know, it is high time that we saw some concrete action on the ground and by that I do not mean rate cuts. The rate cuts may alleviate some of the crisis but they only tend to make the Dollar weaker in the long run and as such, it is time to start thinking of regulating the Housing market!

Recession knockin' on the door of Lady Liberty!

The Government is falling over itself with trying to do its best to prevent any financial crisis, but it is too late to shut the doors after all the horses have bolted.

The beginning of the sub prime crisis should have put the government on notice, but now, it is just too late to prevent anything from taking place. What has been put into motion cannot be stopped now, all one can do is to go with the flow. Both Martin Feldstein and former Federal Reserve Chairman Alan Greenspan are urging the government to do more to prevent any further escalation. Lets not forget that this is the same Greenspan who said that the sub prime crisis would 'blow away'.

Anyway, this is not the time to point fingers, but the time to do a reassessment and see what can be done to prevent anything like this from happening again.
No government is going to hand out money from the treasury to the citizens, but instead what the president can do is to waive the taxes for the affected people and that is just a small step in the right direction. Lets all hope that we do not get into any other war, any time soon, our economy cannot take any more pressure!

money,
george bush,
alan greenspan,
economy,
sub prime crisis,
finance