We were warned
To the Editor:
Thomas Jefferson warned that too much government regulation stifles growth. It has proven true. In 1999 Congress deregulated financial institutions allowing them to merge, even though Rep. John Dingell (D-Michigan) warned that banks would become "too big to fail" and would need bailouts. This also proved true. Government needs to have the greatest impact with the least amount of involvement, and that takes planning. We can all agree on this.
President Obama said we faced "a crisis unlike any we have seen in our lifetime." This is true and means none of us have any experience. We only have history and sense to solve the problems. Consider it has taken over forty years to dig this hole we're in. Did you really think anyone could turn that around and get us back in four? I feel the same pain and frustration, but let's get real.
Economy behaves like a heavily loaded truck or ship. It must slow down before making a controlled turn. The president warned this would take several years. We are not returning to the days of plentiful profits anytime soon. Except of course for the very few with special interests, accounts and tax rates.