Cafferty on Palin

I'm a little behind lately, but I just saw this reaction from Jack Cafferty to the answer that vice presidential hopeful Sarah Palin gave to a question about the $700 billion bailout package.

Now I try to leave politics out of this blog, but this is definitely a cross-roads between politics and and finance (and there's been a lot of that lately). I really can't add too much to what Cafferty said, the answer that she gave is really pretty pathetic and to an issue that will be one of the biggest facing the new administration -- whomever that will be.

Actually, it's kind of funny in a way. Watching her fumbling answer I was reminded of the investment banking interviews I did coming out of college. I studied economics in college and I didn't stray too far in my studies into finance, so I wasn't nearly as prepared as the business undergrads from my school. Being young, I also wasn't all that good at interviewing and didn't have the whole "if you don't know it, don't try and fake it" thing down.

Anyway, while watching Palin muddle through whatever the heck she was talking about, I literally could feel the nerves and stress that I got the few times that I did try to fake my way through an interview answer. Needless to say, the times that I faked it, it didn't work out well for me, and this catastraphic answer certainly hasn't worked well for Palin. I guess I'm just counfounded that her people didn't have her so, so, so ready for this question -- it's not like it came out of the blue.

I guess at least we got an absolutely hilarious SNL skit out of it...

-AvgJoe

The Bailout Plan

I'm pretty bummed that I've been crazy busy lately and unable to post here as we go through what will likely be the most (or at least one of the most) memorable financial events that we'll see in our lifetimes. I'm encouraged that today it sounds like a deal has been struck that we can move forward on. And, yes, I said "encouraged," meaning that I am in support of the plan.

I'll keep it short and sweet, but here's how I feel about it. When somebody is sick and has an elevated fever, the first step is to treat the patient's fever so that it doesn't kill him before you have a chance to treat the underlying sickness. The financial system is currently burning up with fever and the Treasury's plan is aimed at bringing that fever back down. It won't fix the underlying problems that need to be addressed in the economy, but it will help quell the panic and allow us to address those issues (hopefully!).

Rather than try to reinvent the wheel, I'll direct you to this article from the AP that talks about the potential winners and losers from the plan being pushed through. I have some slight differences in places, but overall I like what they've said.

Tomorrow certainly will be interesting!

-AvgJoe