Lawrence J. Kramer

Treasury's Actions Not in Our Best Interest

The only thing that matters in this mess is that our credit markets, fueled primarily by petrodollars, continue to operate. Every suggested solution, and every announced objection, must be measured against the possibility that we will wake up one morning unable to borrow anything from anyone. All other objections may be correct measures of the damage we have done, but that's all they are. The damage has been done: we are merely doing what we can to minimize it, but without forgetting that the best is often the enemy of the good. We must act quickly, under circumstances that virtually assure that what we do won't be the '"best" thing we can do, but will be the best thing we could have done quickly, which is really all we can expect.