As the auto industry and financial markets begin to stabilize, the President says the government’s emergency interventions are now winding down. He pledges that real reform, particularly on Wall Street, must now begin.
Good News all around. I supported the loans to GM and Chrysler, and it looks like it might have been a great investment for our government. With GM paying back the loans 5 years early, it looks like the faith we put in them and the restructuring they did has now paid off.
Now, on to the financial industry... We must have new rules for them and get them regulated. I hope the Senate will pass the bill before them, it may not be the best... but at least it is something. With the current climate in Washington it may be all we can get.
But, it like the health care law, can be added to at a later date if we win a majority back in the fall. Some are now predicting just that.
Thanks everyone and I look forward to your comments.