$5T=overkill

ARTICLE: $5 Trillion Cash Pool Needed to Stop Rout, Ohmae Says, By Bei Hu, Bloomberg, Sept. 23, 2008

I also sense the usual Bush-Cheney overkill.

(Thanks: Jarrod Myrick)

Comments

[Louis Heberlein]

A virtual reality show that still reflects an unfolding economic transformation that few in Congress understand, want to admit, or publicly support before an election.

I was surprised that there were so many apparent Catholics in Congress with career goals in their hierarchy. At least that was an interpretation for their demonstrated pontification talents. The economic transformation they ignore is the equivalent of earlier hierarchies' inability to accept the Earth revolving around the Sun, and adamant refusal to use telescopes that might undermine their position.

[William R. Cumming]

To paraphrase Senator Everett Dirksen's famous remark "A Trillion here and a Trillion there and pretty soon we are talking about real money." [Discussed in the context of Congressional Appropriations.]My guess is the $5T guesstimate is accurate. Time will tell.

[Louis Heberlein]

There is a lot of buzz about why interested government activities and investor public information and guidance activities did not have access to sufficient transparency from the troubled finance and insurance companies to alert the broader market. Part of the reason claimed will be the fiduciary responsibility of those companies to their elite clients which was not offset by rules for the public market. That is like the claim that lawyers make that they must withhold information on their clients actions, even guilt, when their silence causes grief to other innocent people, even the whole public. I think such extreme interpretations of fiduciary responsibility sound more like agents acting for the mafia. You don't do anything that harms or restricts the family, unless the larger family network steps in to lower visibility and avoid public reaction. And there is always that mafia way of reacting to fiduciary transgressions. ;-)