I am really getting tired of big business running my financial life. I get it, really, I believe in capitalism and all that but gee whiz the "mortgage crisis" does not rule my day. The only reason there is a mortgage crisis is because lenders lent money to deadbeats or those that bought more house than they could afford and were to ignorant to understand the implications of an adjustable rate mortgage (ARM). The government doesn't want banks to fail nor do they want the market to fall as investors lose their shirts on this one so a "crisis" is declared requiring congressional action. I wish congress would declare a "crisis" over mutual fund so I know I would be guaranteed a profit for my investments.
This meddling in the market by the President and Congress affects us in two ways, firstly it protects those who should not have boughts homes in the first place and it unfairly protects those who invested in risky stocks, secondly by creating amortgage crisis the President gets to ignore the real problem of the working American, fuel prices. Mr. President you need to pull your out on this one, like or not working Americans have to drive to work and $3.50 gasoline is affecting them more than ARM's are. The great majority off Americans do not have access to reliable mass transit and are therefore chained to their vehicles and have no choice but to pay whatever is required at the pump.
I bring up the "mortgage crisis" because it is an example of how the government should not be meddling in markets. By ignoring fuel prices the Government is again protecting those that should have should have been more careful where they invested their cash. The dirtly little secret about the cost of oil only a few brave souls dare talk about and only rarely outside of financial circles, every know and then if you pay attention on Cavuto or Kramer you here the truth behind the current price of gas. Protecting investors. I understand how the cost of fuel began to rise, China and India become more affluent and with growing economies along with problems with Iran and Venezuela the market for available oil was being squeezed, I get it. But the problem is there are those who have invested, like the uninitiated that have tried to corner gold over the centuries, in the belief the cost of oil would always rise that are now running the market.