Come on, Howard. Half the problem is that so few people really understand the complexity of the derivatives market and most of the ones who do are actually complicit in the situation. When you add in the additional levels of abstraction provided by short-selling and credit default swaps, the inbred co-dependent nature of the modern financial industry, and the very fact that AIG and their cohorts are being less-than forthcoming with information about how it all works and who did what to who and when, it's a right old mess that's harder to parse than this sentence.
Considering the amount of money involved, the botched response of the previous administration and the fact that the "best" solution will doubtless conflict with some powerful people's ideology and add the obligatory political aspect to the solution, I would rather Obama take some time to study the situation before proposing a plan. I mean, it's not like he's been sitting there reading "My Pet Goat" all week. It takes us a solid month to come up with a decent project plan for a new feature in whatever software we're working on. I think we can give Obama a couple of days to come up with a plan to rescue the global economy.
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"I like to know what I'm talking about before I speak"
Date: 2009-03-26 10:21 pm (UTC)Considering the amount of money involved, the botched response of the previous administration and the fact that the "best" solution will doubtless conflict with some powerful people's ideology and add the obligatory political aspect to the solution, I would rather Obama take some time to study the situation before proposing a plan. I mean, it's not like he's been sitting there reading "My Pet Goat" all week. It takes us a solid month to come up with a decent project plan for a new feature in whatever software we're working on. I think we can give Obama a couple of days to come up with a plan to rescue the global economy.
You wanna grab dinner next week?