Tuesday, September 23, 2008
Who can save the US?
Princeton and Paul Krugman? Or Madonna and Justin? I have to emphasize the importance of international finance aspect of the financial crisis in the fall of 2008. On public radio today, the audience are questioning Hank's intention and question why the government move so fast to save rich people and never showed any urgency in dealing with common people's problem. With his connection to Wall Street, people in Asian countries such as Japan, China and South Korea can easily see the conflict of interest where close business-government tie is a norm for corruption. Think about why GW Bush keep trying to ask for drill more and the fact that Bush has never been a really successful drill man for his business life. Should the Paulson's bailout plan get passed, the American people will have deep doubts to their government and should the creditors around the world understand that the Uncle Sam is loosing support from his people, they will worry the AAA credit rating on the US government debt and the depreciation of dollar will happen again and again and again. To prevent that from happening, the American people have to show their determinacy to be a responsible nation and stop Paulson's bailout plan from happening.