We don’t have to tell you about the stock market plunge. It’s all over the news with photos of brokers holding their heads in despair. What more is there to say? When it rains, it pours. Calling this Friday afternoon “Black Friday,” especially on Wall Street, relief isn’t yet in sight but it will come…It always comes, eventually.

According to President Bush, “We’re in this together and we’ll come through this together. Anxiety can feed anxiety, and that can make it hard to see all that’s being done to solve the problem.”

And what is being done, exactly?

The United States is exploring ways the government might inject billions into banks in exchange for ownership stakes. Britain offered to pour cash into its troubled banks in exchange for stakes in them - a partial nationalization. Also, a group of nations called the G20 will meet on Saturday evening. Dominating the discussion will be how the world’s finance officials and central bank presidents can better contain the spreading financial crisis

“Addressing these challenges requires the dramatic steps we are taking here in the United States and it requires strong international partnerships,” Treasury Secretary, Henry Paulson said this week. “We must also take care to ensure that our actions are closely coordinated and communicated so that the action of one country does not come at the expense of others or the stability of the system as a whole.”

According to Dominique Strauss-Kahn, head of the IMF (world’s financial firefighter), “these actions should help to restore trust and confidence in financial markets.”

Is she right?

We will see…But I think Americans are weary. We’ve lost faith in our leaders. Still, after a storm, the sun always comes back out. During both good and bad times, the one thing that you can always count on is change.

Popularity: 6% [?]

In July, President Bush secretly approved orders that allows American Special Operations forces to carry out ground assaults inside Pakistan without the prior approval of the Pakistani government, stated senior American officials. After nearly seven years of trying to work with Pakistan to combat the Taliban and Al Qaeda along with months of negotiating on how to challenge militants’ increasingly secure base in Pakistan’s tribal areas, Bush is just saying no!
“The situation in the tribal areas is not tolerable,” said a senior American official who, like others interviewed for this article, spoke on condition of anonymity because of the delicate nature of the missions. “We have to be more assertive. Orders have been issued.”
Although American officials state that they will notify Pakistant when they come to invade like the Special Operations raid they conducted last Wednesday in a Pakistani village near the Afganistan border, they are not asking for permission.

Permission, in their eyes, is automatically granted whether Pakistan likes it or not.

Popularity: 3% [?]

As of right now, there is a federal ban on offshore oil drilling and President Bush wants Congress to put an end to it. With skyrocketing gas prices, Bush is using this highly concerning issue among Americans to get permission to drill in the Arctic National Wildlife Refuge. However, will this solve our problems? And is it worth the risk?

Offshore drilling is blocked by two bans, Congress and the former President Bush, (yes, that’s right, our current president’s pop). However, now Bush has turned the tables on the topic at hand, blaming Democrats for all the wrong-doing.

“I know the Democratic leaders have opposed some of these policies in the past,” Mr. Bush said. “Now that their opposition has helped drive gas prices to record levels, I ask them to reconsider their positions. If Congressional leaders leave for the Fourth of July recess without taking action, they will need to explain why $4-a-gallon gasoline is not enough incentive for them to act.”

Jumping on the bandwagon is Senator John McCain who now favors offshore drilling. However, according to a statement made by Democratic majority leader, Senator Harry Reid of Nevada, “This week’s flip-flop on offshore oil drilling by President Bush and Senator John McCain is nothing more than a cynical campaign ploy that will do nothing to lower energy prices, and represents another big giveaway to oil companies already making billions in profits.”

Who is the culprit in this blaming match? Who cares. Very soon, we, the American people, (who are being stripped of our blinders after each visit to the pump) will demand change. Whether we go ahead with offshore drilling or find a better alternative, something must be done and the longer we point fingers, the longer the problem continues to escalate.

Popularity: 9% [?]