All is not a bed of roses, but semi-good things are happening. We need to take whatever good, in whatever degree, comes our way.
Today the Senate passed the financial reform bill. While it does not prevent corporate pirates from ransacking and looting our financial structure, it does provide some protection for consumers. As Paul Volcker commented, even if we do pass tight legislation to prevent a similar financial meltdown as we experienced two years ago, the investment wizards will just come up with different vehicles to slam us:
“There is a certain circularity in all this business,” he concedes. “You have a crisis, followed by some kind of reform, for better or worse, and things go well for a while, and then you have another crisis.”
I said it before and I will say it again: a sound country with a sound government based on a sound economy goes back to the underlying ethics, and the willingness to value the right thing over the mighty buck. That said, any new regulations will be of help.
Also today, it appears that BP’s new cap on the oil spill is working. Let’s not hold our breath, but let us be grateful for small favors.
We haven’t had this much “joy” in a long time. So celebrate ……. and dance!
Is this the absolute sweetest picture in the entire world?????