OpEd: What the bond market told Obama----

Loan Type Today Last Week
30 Year Fixed 5.45% 5.23%
15 Year Fixed 4.97% 4.89%


Last week, the bond market told President Obama that it's time for beef...and not baloney---simply printing money is not enough---seniors, and investors want returns for their money. Puny CD rates will not do. The Chinese told the US that printing money will not cut it.

Here is the bottom line---when you are a debtor, the lender calls the shots. End of discussion.

In the financial rescue package---where did the money go? What was the plan? The successive spin of rapidly changing plans was a smoke screen? Many, many banks need to be closed. And the assets need to be properly priced. Delay will not do.

Where is the transparency? Bernanke spoke of it. And then forgot what he talked about.

Feeding news is not transparency. Transparency is more---and what citizens demand.

On the regulation of the hedge funds---where is it?

On the regulation of the banking executive compensation--where is it?

On the indictments for mortgage fraud of the subprime lenders,,,where are they?

The laws of fraud were there---the enforcement was lacking. Nothing more than will was needed..where was it.?

It's time for beef.....not baloney. Visit Paris on your own time. We have needs to be attended to here.