The Economy

(photo credit Poolie)

Depressing as it seems we are all still in the midst of the US Congress stand-off. Purely as an outsider it seems that a number of US Politicians are playing politics with the global economy, but what do you expect from politicians - rarely are they our for anything other than themselves. It is fascinating to watch the arguments range across the political spectrum in the US, I think for once the UK politicians are taking a better line with things and making hard and difficult decisions quickly without too much need to "score points". We are all truly in this together and we all need to get along and assist each other. The whole basis for this crisis is the behaviour of Banks and other lenders lending to the sub-prime market. This, I understand stems from Clinton de-regulating some banking rules. It seems to me that the ire of the US taxpayer should be turned not only on the fat cats who made the money and ran but also the politicians and the regulators who didn't see any of this coming. It is tempting to say that money is the at the root of all evil - but greed and excess is not attractive at the best of times, not to mention face-saving and a whole lot of baloney. Let's just take the medicine and move on. After we UK taxpayers are also paying heavily for some Wall Street Fat Cats!