Ravitch meets with Hugh Carey for 'refresher course'

Not sure what's more frightening: that Ravitch needs a "refresher course for handling a fiscal crisis" or that he's getting this assistance from Hugh Carey.

As smart and successful as Mr. Ravitch was in the past, the scenario of toxic loans on the books of many banks and financial groups remain as ticking time bombs waiting to go off. It's not good news and nobody wants to hear it but there will surely be more bank failures and bank debacles coming in the future as there is much too much accumulated debt that individuals have run up.
People cannot pay this debt and the banks can't write it off or ignore it. This is a tipping point that has to be dealt with. The question is, how to do it?
The success of Mr. Ravitch hinges upon creating jobs. It's not about re-organizing the MTA or having the State Police act as a posse to capture the State Senators and lock them in chambers until they do their homework.
How do you help this debt get paid down? You need to create jobs for people who are devastated. The layoffs haven't stopped.

WIZARDS CANNOT HELP HERE wrote:

How do you help this debt get paid down? You need to create jobs for people who are devastated.

Nah you're wrong ... according to Joe Biden, the only way to get out of debt and stave off bankruptcy is to keep spending money.