After hearing one sound bite after another about bailout policy, I was very glad to hear that an engineer is now in charge of figuring out how to use the $700 billion. Neel Kashkari, was once a space systems engineer, and worked on the James Webb Telescope (which will be the successor to the Hubble Telescope). But he got the financial bug, and got a degree at Wharton Business School. In 2006, he sought out Henry Paulson, whom he had met some time before. One thing led to another, and he is now in charge of re-engineering the financial system of the country. Suddenly, I think there is hope. I happen to know that when the going gets tough, engineers get creative… and practical. And that is what we need right now.
I suspect Kashkari’s team is large, experienced, and is working with the latest data, and the best technical tools available. I have hopes they will come up with something that will actually work, as long as politics doesn’t get in the way.
The candidates have offered their own ideas. McCain suggested allowing a one-year delay in the requirement for 70 1/2 year-olds to start liquidating their retirement accounts, so they wouldn’t have to sell in a depressed market. Obama recommends extending some small-business tax breaks, and making it easier and cheaper for small businesses to obtain SBA loans. I wonder how these ideas will mesh with the Kashkari team results.
On the political front, McCain and Palin are spinning out of control, taking people who sound like Republican redneck rabble with them. They are almost inciting to violence, and pretty much condoning violent statements from the crowd, such as “Kill him”, and “Off with his head”. As a registered Republican, I am ashamed of them, and it worries me as well. Violence is a real concern. Obama has been under Secret Service protection since May of 2007, which is a good thing. I think McCain needs to take some positive steps towards reducing extreme feelings among the hard right-wingers. They are already in his camp. They don’t need to be incited further.
This just in:
We thought this election would be a serious fight over the future of this country, but only one candidate showed up.
10/10/2008, 9:06 AM
I say well said.