Word: actions
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What, then, needs to be done? Government and central bank action, around the world, must have two objectives. The first is speedy intervention to prevent a self-perpetuating downward spiral, which means protecting depositors at minimal long-term cost to the taxpayer. The second is to ensure so far as possible that future booms are less exaggerated. This has implications for the form of any rescue package, and for the system of financial oversight that is put in place...
...UPDATE: Separate but related: Maybe they fear that describing consequences will seem like they're advocating an action, which will in turn seem like bias - in which case, it's a classic instance of letting the appearance of "balance" get in the way of actual, vital information...
...often happens in moments of crisis, the candidates were themselves, only more so. McCain was the action hero, who promised to do the brave, hard things that no one else could. Fire the SEC Chairman! Suspend the campaign! Let's Make a Deal! He was a human diorama of the Great Man theory of history. Of course, getting credit for bringing all parties to the table to reach a historic agreement that pretty much everyone hates may make him wonder if action is overrated, especially after his campaign's self-congratulatory statements ended up being premature. Even with stakes higher...
...talks derailed, Obama's more hands-off approach looked like a much smarter bet than McCain's all-in hand. But Obama may also now have some second thoughts about the virtues of national unity and citizen involvement. Sometimes it feels like democracy in action. Other times it feels like mob rule. The complexity of the problem and intricacy of the solution meant that the public response was more emotional than anything else. In a leadership vacuum, we got irrational belligerence, a desire to punish the greedheads that will take its broadest toll on the victims, not the perps...
...danger is that such rhetoric will be matched by action. Al-A'ghayde says that won't happen because the SOIs "are not armed militias." Still, both the U.S. military and the Iraqi government know they cannot afford to let the SOIs fall through any cracks and feel alienated from either party...