Monday, September 15, 2008

Biden's Experience Best to Help with Lehman Bros Collapse

The collapse of Lehman Brothers investment bank, due to $60 billion in bad real estate holdings, is very bad news for the country and the world. Stock markets are already faltering, and the ripple effects on the American economy in terms of unemployment and inflation will no doubt get worse. (CNN just reported - at 4pm - that Dow Jones plunged nearly 500 points today - "its worst point drop in more than seven years".)

Which of the Vice Presidential candidates can better advise a President on what to do about this?

Sarah Palin has zero experience in national economics.

Joe Biden is Senator from Delaware, a state at the very heart of the credit-card economy. Biden has on occasions been criticized for being too close to the credit-card companies, but his in-depth knowledge of how these finances work, and effect Americans, will be priceless in the weeks ahead, and when Obama and he take office.

No one would wish for the bankruptcy of any business. But the collapse of Lehman Brothers may be just the economic wake up call American voters needed.
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