How to save the financial system in 5 easy steps

The title of this post is a completely whacked out load of bullshit. You cannot fix the economy in 5 steps and even if you could, it sure as hell isn't going to be easy.

But if you listen to some of the media coverage, it seems they expect the public to buy such nonsense.

All I hear in the news coverage lately is some schmuck getting up and telling me who's fault they think it is. "If the regulators had done their jobs", "if not for George Bush", "If not for the wall street fat cats", "If not for Ben Bernaki"....shut the hell up.

I'll tell you who's fault it is: Everybody.

Yup, that includes you. Nobody saw this meltdown coming, but everybody should have. The people buying houses that they couldn't afford: Guess what...anything too good to be true: is.

The banks leveraging in amazing amounts based on mortgages that were questionable? I don't blame the execs really...they were just being dumbasses and following all the other banks. As were the investors in all of those banks that didn't call their management on it. More regulatory overview might have brought it out to the light of day more, but EVERYBODY KNEW IT WAS HAPPENING. EVERYONE.

Lenders, consumers, government officials, Wall Street 'fat cats'....everybody knew there was a housing bubble. Everybody knew banks were overextending their assets in large leverage positions. When everybody knows, there is no conspiracy. No smoking gun. Nobody to blame.

The bubble burst, and now everybody is doing whatever they can to get us back to where we need to be. Obama has a tough road ahead of him. His plan is risky...large Government spending and huge bailout packages. I hear a lot of opposition to his plan, but nobody willing to stick their neck out with an alternate plan.

Obama has been in office for about 45-50 days. This 'crisis' is more than 10 years in the making. It wasn't the fault of the current or former Administration. It wasn't the fault of CNBC, Fox news, CNN, or any other media outlet. It was everybodies fault. Everybody should have done more. Pointing fingers however, doesn't solve anything.

I hope and pray that Obama can turn the ship around, but I doubt he will do it in the next few months. I think it will be years before we see any kind of major growth. Unfortunately that will be the problem for Obama in his reelection, and he will probably lose when it is all said and done.

I just hope the Replublicans don't put up Sarah Palin as a nominee.