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A Crisis of Competence

By Phillip Carter

By Shawn Brimley Like many of you, I've spent the last week trying to wrap my mind around the woe on Wall Street, and how it will affect those of us on Main Street. I watched all the Sunday talk shows and read the press accounts, but I remain confused. Like a drooling idiot, I've watched my portfolio take a hit, and while I am not persuaded by my financial advisor's advice to do nothing, that's exactly what I'm doing. I fancy myself a decent national security analyst, but on this stuff I am, well, incompetent. There - I said it. I guess my dreams of being SEC Chairman are over! But seriously, it seems to me that the dramatic erosion of investor confidence stems from a profound crisis in national competence. We all share some collective blame here: for allowing sub-prime lending practices to get out of hand, for

Full post as published by Intel Dump on September 23, 2008 (boomark / email).