Will We Avert Financial Collapse?

Below is the link to an article about the crisis in the financial world. Unfortunately, the "financial world" is NOT separate from the world the rest of us live in. About six weeks ago, I was watching some analysts on CNBC (a cable business channel). Most of these folks are pro-business, and often anti-government. Across the wires came news of how President Bush, in regards to the housing crisis and the ensuing financial crisis, had made a comment to the effect that "Wall Street got drunk and is now going through the hangover." One of the analysts noted, "The problem with the president saying this is, he was the head bartender and he kept serving up the drinks." The panel went on to express their feelings that the government, under Bush, had not watched and regulated the mortgage and financial industries as well as it should have. This brings me back to how many pro-business folks decry government regulation, until their butts get into trouble, then it becomes Uncle Sam's problem; that is, the taxpayers' problem. In effect, these folks are getting to have it both ways, as they fought regulation that may have averted some or all of these serious problems, but now their butts are being bailed out by the the very government they scorned. Of course, the Bush Administration's philosophy has been, and continues to be, little concern for non rich folks who may have to wonder where their next meal is going to come from, but huge concern with where billionaires and millionaires will get their next million.

http://www.msnbc.msn.com/id/26709927/