Why can’t someone in the media just say it….
The reason for the stock market woes is “Confidence by Banks Lending to Other Banks”
And the politicians probably need to keep their mouth shut for a while (if that is possible in an election year or any time of year).
Wall street has a lot to digest and if they think a politician is going to make a change in what the market now holds, they sit it out to see what the effect might be. That means less buying. Less buying means values will drop.
So call’m up and tell them to SHUT-UP for a while. Wall street would like to deal with what is at hand, not what might be at hand. You only intervene when they are at an impasse.
The government only needs to do what was done during the great depression. Go around and certify (and guarantee) a bank is solvent, one by one. Let the weak fall, put the criminal in jail. After all, this is the capitalism they boast about.
Problem is, some of these criminals are on Capitol Hill!
This is still a matter of the books being cooked that started back in the 90’s and the politicians have done more to insure this was more possible than anyone is telling you. I do want to see some heads hang on this, I mean real time in real jail and not just some discussion in front of a congressional committee where a Politician gets a headline for lashing out.