Morning thoughts on bailouts and abuse

If the Fed and the government allows Lehman to fail, it might be better for al of us - having a market correction now rather than keep delaying the inevitable is definitely not good for the nations interests at large. Plus the usual argument 'they were too big to fail' put forward by the Fed in the case of Bear, Fannie and Freddie seems more rancid than ever - especially with many other distressed banks in the line after Lehman... (read WaMu, Wachovia etc…)

An interesting line from today's Wall Street Journal (WSJ): "To avoid reckless lending in the future, failure has to be an option.". Never thought I will see this day when ultimate free market cheerleaders like the WSJ opines on an investment bank's failure.

The other thought I was having was that it is time for Obama to act and act decisively. Especially in light of the shameful 'kindergarden sex-education' advert which was clearly a complete bag of lies. If Mr. Obama does not act now, come out forcefully and tell the nation that what is at play is pure partisan politics which erases the lines between the truth and untruth and the public needs to start questioning adverts like these, we as a nation would be the losers. He needs to tell us that as a responsible parent of two young girls he took the right steps in sponsoring legislation that will protect young children from predators and for the McPalin team to distort this record is simply dishonest and dishonorable. In addition, he will need to demand a public apology from the McCain for distorting his vote on protecting young children from sexual predators. If he does not do this soon enough and forcefully enough, he will lose the election.

From here: “I have a 6-year-old daughter and a 3-year-old daughter, and one of the things my wife and I talked to our daughter about is the possibility of somebody touching them inappropriately, and what that might mean,” Mr. Obama said in 2004. “And that was included specifically in the law, so that kindergarteners are able to exercise some possible protection against abuse, because I have family members as well as friends who suffered abuse at that age.”