The financial markets are in turmoil.  Nobody disputes that.  The mystery is how we are going to get out of the mess, and how we will prevent a similar mess in the future.  But in an election year, both presidential candidates are scrambling to present their solutions to the mess.  The most interesting solution comes from John Mccain.  McCain has always stated openly and honestly that he knows nothing about economics or finance.  It’s no surprise then, that his solution is to authorize a high level commission to study the turmoil and find out what went wrong.  Such a high level commission would surely cost American taxpayers millions of dollars.  What McCain does not realize is that the exact cause of this crisis has already been conclusively determined. (Hint:  Housing Bubble)  The cause is clear, the damage has been done, and the American public is simply looking for a path out of the mess.  And they are looking for a path that does not put the taxpayers on the hook for bailing out incompetent banking and brokerage CEO’s.  If McCain is serious about leading the country out of the mess, he should stop reading Age of Turbulence, and instead concentrate on the following books that explain the mess:

Greenspan's Bubbles: The Age of Ignorance at the Federal Reserve
Greenspan’s Bubbles: The Age of Ignorance at the Federal Reserve by William Fleckenstein

Bailout: What the Rescue of Bear Stearns and the Credit Crisis Mean for Your Investments
Bailout: What the Rescue of Bear Stearns and the Credit Crisis Mean for Your Investments by John Waggoner

Bear-Trap: The Fall of Bear Stearns and the Panic of 2008
Bear-Trap: The Fall of Bear Stearns and the Panic of 2008 by Bill Bamber