[Even though the stock market had crashed, the breadth of the economic recession was not yet apparent on Oct. 16, 2008, when I wrote this post at my old blog. The musings on crisis and chaos have proven to be true. The need for Presidential leadership to keep Congress focused has proven to be critical.]

In the last few weeks around the world, banks have collapsed and stock markets have crashed and gyrated in ways not seen since the 1930’s. Commercial and consumer credit is largely frozen, damaging the real estate market and corporations’ ability to fund ongoing expenses such as payroll and accounts payable. Last night (Oct. 15, 2008), we had a Presidential Debate in which the moderator asked McCain and Obama what specific plan they had to end this problem. Later, the news networks commentators complained that neither candidate proved he had thought through a plan to end the crisis.

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