This editorial appeared in The (Tacoma) News Tribune.
There never really is a good time to have the worst economic crisis since the Great Depression.
There is, however, a really bad time for it.
That would be in the waning weeks of a lame-duck president's term while the nation is waging not one but two foreign wars.
The outgoing president could be detached and distracted, reluctant to take forceful action that his successor would have to live with. The president-elect could be bogged down in transition details and hesitant to seem like he's pre-empting his predecessor who is, after all, still president.
Fortunately, not too much of that seems to be going on. President Bush announced Monday that the federal government would invest $20 billion in Citigroup Inc. and would guarantee more than $300 billion in the financial company’s troubled assets. And President-elect Barack Obama is making the right moves to assure the financial markets that he’s on top of the crisis and plans to be ready to act swiftly when he takes office Jan. 20.
To read the complete editorial, visit The (Tacoma) News Tribune.