Is Bush to blame?

In this week's Manhattan Free Press, publisher Jon Brake says:

For those who want to blame President George Bush for the market problems:
"In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits."
NY Times Article: Sept. 30, 1999

The fact is that no President is responsible for the mess. It's been coming for a long time, and is exacerbated by pressures like the above from various Administrations, Congresses, and shareholders. Blaming George W. Bush (Or Bill Clinton, for that matter) is akin to blaming Herbert Hoover for the Great Depression. Many factors, the majority of which were out of his control, came together to cause the problem on his watch.

Still, there is a good reason why Harry Truman had a sign on his desk stating, "The buck stops here." We humans have a tendency to need someone onto which to pin ultimate blame. Bush will be blamed for this one, even though it's the product of many decades of bad policy-making from members of both parties.

Computer questions and answers

Q: What should you do when you get an e-mail titled "Pictures of Sarah Palin nude!"?
A: Whatever you do, don't open it! It could contain a particularly bad virus.

Q: What should you do when you get an e-mail titled "Pictures of Hillary Clinton nude!"?
A: Whatever you do, don't open it! It could contain pictures of Hillary Clinton nude.

The UK's view of our elections

I love to read the BBC News ... and other foreign news outlets. They have such an interesting view of us.

Today's take on last night's speech by Hillary Clinton at the Democrats' convention is a lot of fun to read. Here are some relevant quotes:

After all, the winds of change should be blowing against the Republicans and their president. But, everywhere you look in Denver, you find nail-biting delegates, nervous surrogates, defensive campaign staffers.

The rest of the world thinks that Mr Obama will be America's 44th president but, at home, the Democrats are the worried party.

To some extent, this is their traditional role. Like Woody Allen in one of his earlier movies, the Democrats excel at fretting, agonising, navel gazing and over-analysing.

The opinion polls, which have Mr Obama and his Republican rival John McCain neck-and-neck, prove that they have reason to worry.

The senator from Illinois has had an arid summer. He needs to have a bountiful harvest season.

But the other reason for anxiety is the Lady who broods in the wings. Of late, Hillary and Bill Clinton have not uttered a single public word of apostasy. They are toeing the line, gritting their teeth and swallowing their pride.

They are also economical with their enthusiasm. I am told that senior Clinton people aren't even sticking around for Obama's big stadium speech on Thursday. This is damning with faint praise.

And what has to be my favorite quote:

If Barack Obama wins the 2008 election, this will be remembered as a gracious salute from a defeated rival; if he loses and Republican John McCain gets the White House, then we might just see it as the first speech of Campaign 2012.

Read the article here.

Pick a President like you'd pick a CEO

In the latest issue of Business Week (Feb. 4, 2008), Jack and Suzy Welch answer a question from a reader (page 88) asking, "What caracteristics would you say are most important when choosing a company CEO or the next U.S. President?"

They have long advocated six key business leadership characteristics, and they apply them to the problem of picking a CIC instead of a CEO. Most telling to me was the first one:

Take authenticity, the foremost quality business leaders must possess. It's equally crucial for a President, and for the same reason: trust. When President is trying to promote a major initiative or lead through a crisis, the nation can't be embroiled in a debate about his or her sincerity.

Well, there goes Hillary ... wiped off my list (still!).

Now I just have to look for that quality (and the other five) in the pool of candidates that are left. We're down to seven serious contenders now, and I honestly can't say I like any of them. I fully expect to enter the polling booth this November with my nose held, and vote more against one than for the other. I still haven't made up my mind which corner I'll stand in come caucus day ... and it's coming up quickly!