Administration Must Address Systematic Problems that Caused Financial Crisis

The funds from the financial rescue package are going all over the place. They forced a quick vote on something because they were convinced that they needed to implement a plan immediately.Now they realize that the plan they envisioned does not immediately address our economic problem, and it’s a plan that they perhaps should not have implemented at all, and now they are changing directions.

I think the biggest reality in this is the so-called “experts” got it wrong. This is definitely one place where everybody is kind of feeling their way along. My concern was the Administration’s attitude focused on doing something quick, rather than making sure it was right.

They didn’t know what they needed to do and they needed some time to retool. Frankly, they should focus on addressing the systemic problems that caused this crisis, rather than just continue the failed policy of throwing money at the problem.