PUT IT ALL INTO PERSPECTIVE
With so much going on in the world right now from Wall Street to Main Street, the ongoing war in Iraq, and the presidential election, it can be difficult to find the strength to shift your perspective from fear and dread to hope and optimism.
Today, Congress will vote on legislation to address the urgent needs in our financial system. Many argue that we do not need this fix, that “the markets” will sort this out, and that this crisis is simply “cyclical” in nature. After watching the market decline over the past few months, skyrocketing fuel prices, the failures of Lehman Brothers, AIG, and Wamu, and finally The Reserve money market funds share price “breaking a buck” (going below $1.00); my assessment is that these are far beyond normal, cyclical events.
In other words, yes Virginia (and everyone else), we do need help. The good news is that it’s coming.