dougnhi

Stock Market to Bernanke: Hints Aren't Good Enough

It's counterintuitive, but we need MORE TRANSPARENCY, not less. Folks are arguing for suspension of mark-to-market accounting standards, eliminating short selling, proping housing and market prices, and even using new government SIVs to hide bad debt. You name it, they've ad-hoc'd a bandaid for it. When will folks realize that the current policy actions by Bernanke and Paulson are a national disaster of biblical proportions? These folks truely believe they can conquer the business cycle through manipulation, and all they've done is trash our currency, run up huge national debts, allowed moral hazard to run amok, and caused a general mistrust of market mechanisms. They're thinking all wrong. The way to healing is to accept the human nature of the business cycle, understand that the greed and moral hazard have run their course, and now the inevitable correction can't be stopped. We need to finally force the bad institutions out into the open and let them fail. We need to expose those who have thought they could flip/flop/and steal their way to enormous profits on the backs of other peoples money, and deal with them vigorously. We need to allow honest folks who made mistakes to unwind with some pain so that lessons will be learned for the future. We need to REWARD those who saved, avoided debt, and were responsible as the NEW CYCLE WINNERS via reduced prices that they can pay with hard earned/saved dollars. Will the corrections be ugly? Sure. Will we all survive? ABSOLUTELY. Come on folks, enough games....let's get it over with and move on. We need to distance ourselves from the Bernanke/Paulson doctrines, and reestablish the common sense that made us great many years ago. This something for nothing generation and manipulating elitist class of folks need to go. Did anybody really think it would be wise to have Goldman Sachs running the world bank and our treasury department? We were deluding ourselves. Time to wake up and get real. It's not too late to save our democracy from these idiots, but the longer we wait, the worse they'll leave it.