As Hill debates bailout, Wall St.shifts continue...

Washington Post,Sept.22, 2008 Headline on page A1 re The financial Crisis: Paulson, GOP oppose Democrats' proposal to limit executive pay.
Democrates sought to add oversight provisions and taxpayer protections to the proposal, which amounts to the largest government intervention in the private markets since the Great Depression. "We will not simply hand over a $700 billion blank check to Wall Street." House speaker Nancy Pelosi said in a statement.

Bill McCarty wrote:(page A14)
We could have put the brakes on this train wreck, but there was no political will from Main Street to rein in the good times. Let's get behind a plan to clean up this mess, learn from our mistakes and make sure that the good sense of Main Street forever controls Wall Street and Pennsylvania Avenue as stated in the Preamble of the Constitution of the United States i.e. We, the people of the US...

Japan's central bank's financial reserves and the nation's economy are so inextricably tied to the fortunes of the USA that Japan simply cannot afford to criticize Washington or consider withdrawing its roughly $860 billion in US investments, mostly Treasury bonds. Sino-Japan trading activities are increasing for reference to USA. Sino-American Economics may be interwoven with Sino-Japan economics as economic influence in East Asia with the West.

Three words to guide such economic relationship: Vigilance(Jingti), Strength(Liliang) and Fortitude(Jianqiang) as the watchwords in the 21st century.

Francis Shieh a.k.a. Xie Shihao on Monday, September 22, 2008