After 7 years of lies from Bush, Cheney, Pelosi and the gang, people have stopped believing them.
As Ralph Waldo Emerson said:
“Who you are speaks so loudly I can’t hear what you’re saying.”
Its like a thief who has been arrested 5 times for burglary. Even though he says all the right things to the judge at sentencing, the judge is still going to throw the book at him.
If the thief is appointed to head a government commission on corruption, do you think people will have confidence in the commission or its proposed actions? (Paulson was the head of Goldman Sachs when they sold huge sums of mortgage-backed securities called collateralized debt obligations, which are part of what caused the financial meltdown).
Paulson, Bernanke, Bush, Pelosi and the gang may be saying nice things about fixing the economy, shoring up the financial system and helping American citizens, but people don’t believe them anymore. They’ve been proven liars one too many times.
While the Bush administration is doing everything in their power to prop up the stock market until they are out of office (or at least until after the election), the problem is them: Americans and people everywhere distrust Bush and congress so much that they see through every superficial magician’s trick that might have worked when people had a less jaundiced eye.
People have woken up to the scam. Americans are no longer quite so gullible about how “good” their government is. They hate Bushco and they hate Pelosico.
Who they are speaks so loudly that we can’t hear what they’re saying.
The only thing that can restore confidence in the economy and the financial system is to replace the whole lot of them (tar and feather them) with honest leaders who will do what’s best for the people.
Forget the “toxic debt” that the talking heads keep referring to. The only way to restore confidence is to get rid of the “toxic leaders” who caused the mess.
And while we’re at it, we need to replace the systems which are rotten to the core with transparent and honest systems which the people have control over. See also this.