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Blog Directory Del's Perspective: Mar 12, 2009

Thursday, March 12, 2009

Stimulus Package: Where's Ross Perot When We Surely Need Him?

Where's Ross Perot we need him? No, I am not talking about leading the country, although I do think he would be a great source of knowledge in these troubled times. I am talking about his ability to get up close and personal with his flip charts. Who could forget his visual effects during the 1992 presidential campaign? Whether we want to admit it or not he did inculcate a lot of difficult information with those big charts and keen pointers.

Every one is in a tizzy over the stimulus package and the bail out of banks. The information is so esoteric that the average citizen doesn't gasp the rationale for the continued loaning to A.I.G. and Citibank, for example. For that matter, many well educated people "get it" but continue to berate the Obama plan for no other reason than to follow the party line.
One huge reason why we must continue to bail out the big boys falls to a concept known as "credit default swap". This is a very complicated bank-to-bank scheme wherein world banks pay off a monthly type of insurance plan (this plan that must be paid monthly for fear of a run on the banks). In other words, A.I.G. and Citibank are wrapped up in a world web from which they cannot be extracted.

So, why bring in Ross Perot? Well, maybe not him physically, but someone who could graphically explain the whole process to us in order to bring credibility back to Wall Street. Yes, we need a Perot type person who is not connected to the financial barons who could flip chart us into some modicum of sanity.
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