Sunday, March 15, 2009

It Is Easier for a Camel to Go Through the Eye of a Needle

According to the report by Tom Abate in San Francisco Chronicle (Saturday, March 14, 2009 -, former Treasury Secretary Robert Rubin, Speaking at the Stanford Institute for Economic Policy Research's 2009 economic summit, "told an audience of several hundred business and academic leaders how factors such as shoddy mortgage practices, questionable financial securities, the stagnation of real wages, and subsequent over-borrowing by many Americans, had all crept up, virtually unnoticed, to shutter homes and swell unemployment rolls."

Virtually unnoticed?

Even a lay person such as I could see those increasingly visible problems. Are our governmental official really oblivious to the obvious or are they just really reluctant to face up reality? It is easier for a camel to go through the eye of a needle.

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