Mark Knows It All

This has been an extraordinary week in American history, and me being me, I can’t let it pass without comment. The issues presented to our financial system have been complex and difficult to understand. I don’t understand it all myself, but I know enough to allow me to conclude that very few of the television commentators and anchors, and all of the political candidates from all of the political parties, probably know less than me. The country deserves better explanations about what is going on other than it is a taxpayer bailout. What the government did for Fannie Mae and Freddie Mac was a bailout. The Chase Bank takeover of Bear-Stearns was a bailout. AIG was a bailout What the government is doing today is NOT a bailout, and had it been done 6 months ago when the few voices in the wilderness were calling for it, the actual bailouts most likely would have been unnecessary. Take away the static and noise, here is what the government is doing. For various reasons, and there is plenty of...