Deloria,

I like your post and agree that these men are doing their best, given the hand they were dealt. I don't think there is some big conspiracy as has been suggested regarding certain banks.

However, their methods in tackling this problem have been an abysmal failure thus far. A year ago, certainly publically they both said that there was no risk of a recession. Bernanke has stated many times that there was no risk of another depression. He's almost laughed at the suggestion.

One could argue that they may have known otherwise and their public statements were geared to instill confidence and not cause panic, however, their actions also matched their words. Add comments yesterday by Greenspan who said he's shocked at how things have transpired. I do not believe for a moment that they had a handle on this beast or anticipated any of what has started to unfold. They would never have let Lehman go down if they did.

You can call it a black swan (great book by the way.. anyone who hasn't read it yet... rush out and get it or download the audible version which is a great listen), but black swans appear out of nowhere to change the game. How can you say this appeared out of nowhere when everyone on this forum has been talking about this coming for 2 years. Everyone we collectively read/listen to has been calling for this. They saw it and not any of these people have a PHD in economics so how could it be such a surprise to Paulson, Bernanke, Greenspan and the entire Fed board?

Even up to one year ago steps could have been taken to head off the magnitude of this crisis. They've been reacting behind the curve the entire time that this has unfolded.

You know, these guys are supposed to be the best of breed. Yet they've proven to be nothing of the sort. I listened to Bernanke throughout the year telling the senate panel that he expected things to get better not worse. Then he'd go back and say the same thing. It's been a joke.

As for the politicians who allowed all this? Well I don't really have a lot of respect for them either, however, the entire blame can't be put on their shoulders. It comes right down to the people who vote them in year after year. They want lower taxes, cheaper socks from Walmart, lower interest rates on houses.... the politicians can't get elected by saying that interest rates need to rise, the debt must be reduced. Cutting taxes while increasing spending made things nice for a little while but that kind of irresponsible partying has led to this. Are politicians to blame for that? Yes. But so are the voters who won't elect any politician who even smells of being responsible.

And lastly, Bernanke and Paulson, perhaps good people. I believe they are. But they have not proven to handle this well. I don't know that they could have done worse. I have no sympathy for them. They wanted the high profile job.