Economic hell, and then what?
Whatever the new administration does, we're in for months, perhaps even a year, of economic hell. After that, things should get better, as President Obama's stimulus plan -- OK, I'm told that the politically correct term is now "economic recovery plan" -- begins to gain traction. Late next year the economy should begin to stabilize, and I'm fairly optimistic about 2010.
But what comes after that?
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Oversite, Oversite, Oversite. You cannot express this enough. No more sub-prime lending and keep the fox out of the henhouse. We also need a full explanation of what slezball Paulson did with 375 billion dollars. We can only hope that Obama & Co. will put the money where it was supposed to go. Mortgage relief for people losing their homes.