Friday, September 19, 2008

That Opaque Bush Administration

President Bush hasn't taken a question from the news media since he arrived in China for the August Olympic Games. The financial meltdown this week produced two short comments, which gave very little information about the problems facing the markets.

One might expect a little openness and transparency, but this has the feel of crisis management with its corresponding hush up. My guess is American financial, business, government and regulatory leaders committed major malpractice. The patient is hemorrhaging badly. How can they throw it a lifeline but not admit any errors?