Why are the people who played instrumental roles in causing this crisis now trying to fix it? First we had Paulson, former CEO of Goldman Sachs, solving the problem. This man played an instrumental role in turning Wall Street into a casino where debt was the playing chips. Now, we find out this morning, that Tim Geithner is working hard on a new plan to solve the crisis. Geithner, former President of the NY Federal Reserve, was asleep at the wheel as these problems all spiraled out of control in his backyard. Why do we trust him to fix anything when he was arguably a cog in the machine that caused all of this?
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.