The fall and the fallout….both could be worse

The good news in all the bad news lately for U.S. citizens, is that the financial crisis hasn’t seriously hurt the economy yet. Which is amazing. And the other good news for voters is that the two presidential candidates haven’t launched an offensive blaming it all on the other’s party.

That’s because there’s enough responsibility all around. There were a few good and concise articles explaining this in the sea of more unintelligible texts in the media, like this Wall Street Journal online rundown. And this New York Time’s piece.

To make the bailout palatable to the public, it is being described as far better than inaction, which administration officials and members of Congress say could imperil the retirement savings and other investments of Americans who are anything but rich.

But it is a good bet that the negotiations between the administration and Capitol Hill will include ideas about ways to help middle-class homeowners avoid foreclosure and perhaps some limits on pay for executives. And it should be noted that neither party is solely responsible for whatever neglect led the country to the brink of disaster.

Since both share some of the responsibility, both presidential candidates are being careful in reacting to the crisis and forming their economic strategy around current (drastically) changing conditions.

The deepening financial crisis and the shifting government response to it have challenged both presidential candidates for more than a week, as they struggled to react to a situation that seemed to change each day. In the interviews, they gave some of their most detailed views of the crisis to date.

Once they issued such measured words on the financial crisis, both campaigns proceeded to release strong ads casting each other as dangerous for America’s economy.

At last count, the two are spending $15 million a week in competing television ads in about seven key battleground states.

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