The New York Times recently reported that Thursday night, Congressional leaders were briefed by Fed chairman Ben Bernannke and Treasury secretary Henry Paulson on the “potentially devastating ramifications of the financial crisis.” The information revealed “stunned” those in attendance and was apparently so bleak in its predictions that members of both the House and Senate vowed to put “politics aside” and collectively bring to vote several measures concerning this issue by the end of next week.
I find it interesting that the one word that came to my mind after reading this article, an article concerned with the most potentially devastating financial crisis of a generation, was refreshing. It was refreshing to at least hear that a bipartisan group of legislators understood the severity of the Country’s and was willing to work together to find a solution. It is also refreshing to hear that the stated, and understood, cause of the current foreclosure problem was due to “bad lending practices.”
It’s hard to distinguish political rhetoric from true intentions in today’s political clime, but I could not help but feel some hope after reading this article. Hope that the message delivered in the office of the Speaker of the House was severe enough to serve as a wake up call to our legislators, and hope that the wake up call was not too late.
It’s hard to distinguish political rhetoric from true intentions in today’s political clime, but I could not help but feel some hope after reading this article. Hope that the message delivered in the office of the Speaker of the House was severe enough to serve as a wake up call to our legislators, and hope that the wake up call was not too late.
