In case your wondering, the photo is a fake. Apparently one of a number of Photoshop’d hoax photos that have been circulating.
The news (especially CNN) can be so freak’n irresponsible. I just watched them do a segment with an economic expert who states (quite accurately) that the reason there’s a credit crisis is that institutions are worried that people may panic due to lack of confidence. Then immediately their next segment is a ‘Man On the Street’ piece where the reporter asks everybody “On a scale of 1-10, how worried are you about the economic crisis?” and proceed to show a montage of people saying they’re worried.
And I hate that BOTH candidates are pushing hard for that $700 billion bailout package (now closer to $950 because of extra additions added by the Senate yesterday), when there are alternative solutions that will do the same thing for far less cost: Restore lender confidence.
For example the DeFazio ‘No Bailout Act’ proposed by Democratic Congressmen and based on the Reagan Administrations rescue package for the Savings and Loan crisis. How crazy is that? But it makes much more sense than the Bush/Paulson plan. It says something when both the Nation and the National Review, the leading Liberal and leading Conservative political magazines, are against the plan.