Thank You Henry Paulson

I am glad there is someone like Hank Paulson that working to FIX the credit crisis and avoid meltdown of U.S. financial systems.

Money and financial systems are based on confidence, the belief that paper currency is worth the value stated on the bill. Confidence in the U.S. credit system nearly disappeared last week as major financial companies lost access to funds needed to stay in business. Someone with financial market knowledge needed to step in and take decisive action.

To me, this government bailout is not about saving more companies, e.g. AIG, Morgan Stanley, etc. It's about maintaining confidence the U.S. monetary and financial systems, which the government needs to do. Historically, when the government has ignored this responsibility, the U.S. has fallen into recession and even sometimes, depression.

Even with this action, I believe the U.S will experience a recession and a lengthy recovery. However, that is better than the alternative of a meltdown if nothing were done.

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This is not financial advice. Please consult a professional advisor.

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