High finance in 13 minutes
If George Bush weren’t President, he’d make a great finance professor. He just explained mortgage markets as well as anybody I’ve heard in the first quarter of a 13 minute speech.
I don’t think Franklin Roosevelt gave as good a TV speech himself in 1929.
I was a little disappointed that he didn’t give any attention to the idea of extricating ourselves from the excessive government entanglement in the markets that created the issues in the first place. The mother of all bailouts may solve the immediate monetary crisis, but if that’s all it does the burden it places on the general economy could take it from being fundamentally strong – which it is – to being fundamentally drained.