Krugman Takes Apart the Obama Plan
Friday, March 20, 2009 Is this where someone points out, finally, that we have dark days ahead? Too soon to say whether the Obama has failed. I do know one thing--it will not be conservatives who bring him down. It will not be the McCain wing of the Republican Party that accomplishes that. No, it will from from people like this:
AIG
Preliminary thoughts on the tax bill: 1. It’s not the way you should make policy — it’s clumsy, and it will punish some innocent parties while letting the most guilty off scot-free 2. But — there wasn’t much alternative at this point. And for that I blame the Obama people. I’ll leave to others the question of who knew or should have known that the bonus firestorm was coming; but it’s part of a pattern. At every stage, Geithner et al have made it clear that they still have faith in the people who created the financial crisis — that they believe that all we have is a liquidity crisis that can be undone with a bit of financial engineering, that “governments do a bad job of running banks” (as opposed, presumably, to the wonderful job the private bankers have done), that financial bailouts and guarantees should come with no strings attached.This was bad analysis, bad policy, and terrible politics. This administration, elected on the promise of change, has already managed, in an astonishingly short time, to create the impression that it’s owned by the wheeler-dealers. And that leaves it with no ability to counter crude populism.
AIG was created by the incompetence of the Dodd, who saw that wave of populism and took the coward's way out of explaining his culpability--he was mislead! I fear the moment where liberals start being consistent, and begin judging the Obama as they judged George W Bush. Only then will they begin to be a true "national" party. Right now, it's amateur hour, and I'm staying away. Will I raise money to make General Petraeus the President of the America? No, no I will not. I fear he will pick Senator McCain's chunky daughter to be his vice president. I'm not going down that road, sir.
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