Last night President Obama during his news conference said he did not want to steal Treasury Secretary Gethner's thunder regarding the next phase of the bank/Wall Street bailout. Today it was evident why, there was no thunder.
Gethner offered very little, and scared the market, making stocks drop, especially stocks in banks. I thought the deal was that Gethner was going to have a plan for government, industry and the banks to go hand in hand to start building up the economy. Looks like that is not going to happen. So just what is Gethner's plan and how will it work? I fear that I am as confused as the rest of the commentators.
Another piece of disturbing news is that several judges in California want to start emptying out the prisons due to over crowding. They are talking in terms of fifty percent. I don't know how they are going to decide who gets to go, but I know I am glad I am not in California.
The state attorney general plans to fight the decision all the way to the Supreme Court, but the tragedy is that the state's financial and criminal situation is so bad that some criminals have been sent to out of state prisons. I don't know what the answer is, but I believe more prisons make better sense than letting criminals lose.
The freeing of prisoners is something that could be considered in other states. We will all do well to see just what current legislation is pending in our state houses.
Times are tough, but we shouldn't make them tougher by putting hardened criminals on the streets.
Its Common Sense!
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