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Today Henry Paulson, acting in desperation, radically revised the U.S. bailout package. Instead of buying toxic assets from banks, now it will try to inject money directly into the economy by supporting the consumer debt markets directly.
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I can't believe it either: we actually elected a black president. I'm ashamed to realize that I underestimated my fellow citizens, but I think it's the same old story: the bigoted minority makes the most noise. Bishop Shelby Spong once said, "Religions are like swimming pools, most of the noise comes from the shallow end." I think politics is the same way.
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Behind closed doors, many of us are seeing the value of our investments and retirement plans wrecked. We are seeing our jobs become insecure or losing our jobs.
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