Responsibility

The entire financial crisis began back in July of 2007 when there was a loss of confidence by investors in the value of mortgages in the United States. As a result, lawmakers hurried to inject a substantial amount of capital into the financial markets using the United States Federal Reserve Bank. Granted, no one can credit the current crisis to any one lawmaker or any one financial committee. The mess was bigger than anyone could have ever expected. But, many of the decisions made by lawmakers after the demise of the housing industry have only come to worsen an economy that was already sliding downward. That being said, I think it's time that Barney Frank, Chris Dodd, Ben Bernanke, and Tim Geithner, and every other politician in Washington stop pointing fingers and own up to the mistakes that they have made during this grave situation. Because, it's not going to be government intervention that will solve our problems, but officials allowing time for the markets and industries to correct themselves. I think former President Herber Hoover put it best when speaking on this subject, "Economoic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body-the producers and consumers themselves."