Tag: Geithner
The Blame Obama Brigade
This weekend seemed to be filled with lots of discussion all over the internet re: Matt Taibbi’s piece giving President Obama’s economic team a not undeserved beat down. I like Taibbi’s writing a lot and the fact that he doesn’t do conventional “objective” reporting doesn’t bother me (but the repetition of bad data does bother me, like the so-called “cost” of all of the bailouts being 23.7 trillion), but I still find it hugely remarkable that there are plenty of people on the left who are very comfortable blaming Obama for not being liberal or progressive enough – as if that is all it would take to get major legislation through Congress.
Geithner’s 6 Point Plan
Below I’ve highlighted the six points of Geithner’s plan. (Read LA Times article here.) The key elements of the Obama administration’s proposals are: • Give a single government entity, possibly the Federal Reserve, the power and authority to oversee the entire economy for signs of “systemic risk.” • Establish a government mechanism to seize and […]
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