The Missing Link - Just another day in the mortgage mess

This morning, I was watching the news when I briefly caught a blurb of what the spokesman from the World Health Organization had stated. He said something that made me think about this financial crisis, it made that much sense, except he was obviously referencing the swine outbreak. Anyway, what I heard him ask, "What is the overall take on the situation and where are we?"

Immediately, I thought to myself why didn't the World Bank have a spokesperson speak to the public in March 2007? Furthermore, why didn't the World Bank have a spokesperson speak to the world back then, and state the obvious; which would have been "What is the overall take on the "subprime" crisis, and where are we?" Why is it, the Center for Disease Control has a potential health epidemic and the World Health Organization speaks to the world and, on the contrary, the banks had a subprime epidemic and, yet, the World Bank did not have a spokesman speak to the public. Had the World Bank done this, then maybe it could have calmly let us know what precautions it was taking to control the epidemic. Furthermore, the spokesperson from the World Bank could have educated consumers/citizens on what to do to protect themselves should the subprime crisis spread and, moreover, what we could have expected should a financial crisis take place.

Think about it, a flu epidemic can threaten economic stability. So, why doesn't the World Bank have the same formality in place, when an epidemic is threatening the stability of the financial system worldwide? The Federal Reserve and the US Treasury Department should have never been expected to handle a worldwide crisis by itself. This was an epidemic that could have been contained had there not be such a disconnect between the banks, the Regulators, Congress, and even the World Bank it seems.

Seems like a logical solution for the future. Just an idea.

Stay tuned...I have more to share. Just another day in the mortgage mess!