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Crisis in the Making: Steve Feilmeier, CFO of Koch Industries, Inc., Discusses Solutions and Strategies for the Modern Economic Crisis.

Article Excerpt
WICHITA, Kansas, June 23 /PRNewswire/ -- The following was issued as a statement by Steve Feilmeier, CFO of Koch Industries, Inc.

Back in January, when our chairman and CEO, Charles Koch, was sharing his thoughts about what to expect in 2008, he warned us that "we could be facing the greatest loss of liberty and prosperity since the 1930s."

If anyone doubted the wisdom of his words then, there should be little room for doubt now.

The upheaval in global financial markets has reached a point where all of us are going to be affected in one way or another.

Tough questions

Many Koch company employees have raised questions and concerns about the growing credit crisis, federal takeovers of Fannie Mae, Freddie Mac, AIG and the $700 billion bailout bill.

Did the markets fail? Is the financial system really distressed? Is the U.S. government doing the right thing? What are the short-term and long-term implications of these actions? Should we support the U.S. government's actions or not? Is our company at risk?

In an effort to answer those questions, here is a summary of our point of view on all this.

Root Cause

Almost all of these problems (and much of the current chaos) are, at their root, the result of political failure....