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Reply #3: I don't know, Robert.... [View All]

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Home » Discuss » Topic Forums » Economy Donate to DU
Citizen Number 9 Donating Member (878 posts) Send PM | Profile | Ignore Mon Dec-15-08 01:46 PM
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3. I don't know, Robert....
Trust seems to be slowly returning....

Credit markets seem to be thawing a little.
Stability seems to be slowly coming back.
Mortgages are becoming more available and rates have come down to a more reasonable 5.5%
Even the Consumer Confidence Index has bumped up a bit.

Government auditors were on the job before and during the crisis and it didn't seem to protect us.
More recently, the fraud apparently perpetrated by Madoff was completely passed over by the auditors

I'm not sure more auditors are the answer. Might make us feel better, but my experience is that if you get too many of them you are just giving jobs to people who aren't too good at that kind of work in the first place.

Not saying we don't need changes, but the best healer of trust might be simply giving things some time.
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