The third Presidential debate is scheduled for this Wednesday. The good news is that the market looks set for a rebound this week. Everyone has adjusted to the new market reality, and we should see more predictable trading. The bad news is that we seemingly have not learned much about the causes that can help us avoid the next big market upheaval of the future. Perhaps now is the time for the candidates to share their specific perspective.
Blame for the financial mess we are in is abound. Everyone has a piece; from consumers overstating their income, to banks turning a blind eye, to the Federal government lowering interest rates and pushing for home ownership for everyone. Yet who among us is willing to take responsibility? No one. The candidates continue to publicly blame Wall St.
So let me pose this question for the Presidential debate on Wednesday night; "How are politicians directly responsible for the collapse of our banking institutions?". Additionally, "As President, would you continue to push for 100% home ownership for every American?".