economic crisis

I know you can hardly wait for my take on the current economic crisis. I’ll be the first to admit, that like John McCain has said, I’m no expert on the economy. Certainly there are a lot of “financial products” out there I don’t have a clue about, but there are some things about the market and the politics around it I do understand. Any plan needs to come at this current economic problem from at least two directions. One direction must work on the consumer side to reduce the number of defaults and bad loans. This will help the economy and reduce the total cost of any bailout. On the other side, perhaps purchasing some percentage of an institutions bad debt is acceptable, but that institution has to absorb a portion of their bad decisions. This goes to trust and accountability.