In response to the letter that Denny Geraghty of Denver provided to the Vail Daily on July 15 in regard to Dick Gustafson’s opinions, I want to follow up with my support for Denny’s well expressed letter regarding the events of the last several years.
I am a political independent and feel that our country has lost sight of the abyss that we almost fell into. Those responsible for the resurgence of our economic improvement were indeed: Bernanke (who, as a Republican, was asked by the Obama administration to continue his pursuit of an economic solution for a distressed economy) along with Geithner, Paulson, Summers and others. Their collective efforts saved America and the global economies from a financial disaster beyond comprehension.
I just read Timothy Geithner’s “Stress Test” and, along with Warren Buffett, strongly recommend it for all who want to have a better understanding of what occurred during the past decade.
Presidents have a difficult job enacting solutions and are stonewalled by a politically divisive and/or a non-supportive Congress, subjected to partisan and electoral concerns. We have reached that plateau once again and need to rethink our political perspective.