Saturday, September 27, 2008

The Business of Politics

Talk about mixing business and politics; they’re practically married now. As the debate surrounding the federal government’s proposed $700 billion bailout rages, it is interesting to note who’s in the loop.

Each of the two presidential candidates have taken time during campaign stops and interviews to discuss their views and perspectives on the crisis in the financial services industry. We’re not here to debate who’s right and who’s wrong.

What’s fascinating is that both candidates were at the White House yesterday in the room with Congressional leaders and others, debating and negotiating their way to what -- as of this morning -- is a stalemate.

Neither candidate is a member of a banking- or financial services-related committee in the Senate. Neither has a background in the financial services industry. Their participation in the meeting was solely due to their candidacies for president.

That leads to this question: To what extent should they be involved in crafting a bailout program for the banking industry, outside of incorporating their solutions into their platforms?

source: The Business of Politics, NY