Monday, March 16, 2009
Mr. President, Instead of Getting "Choked Up With Anger", Please Do Something Useful By Stopping Your Economic Team from Choking the Economy
Mr. President, in a press conference today, you said that you were "choked up with anger" about AIG's shenanigans.
Mr. President, we don't need your populist rhetoric. We don't need you to be choked up with anger.
We need to you actually exercise your power and actually do something constructive.
Mr. President, the main bottleneck right now is your team of top economic advisors: Geithner, Summers and Bernanke.
These guys were largely responsible for creating most of the problems which we are experiencing right now. See this, this and this. Mr. President, these guys are choking the economy. They are strangling it. They are cutting off all of its oxygen.
Until you replace them with people who saw this crisis coming and who have ideas about how to actually reform the failed system instead of trying to prop it up, things will just get worse.
4 comments:
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The something he should do you Austrian School types would probably yell and scream about. The only real way out of this according to my favourite economists is to Nationalize at least the top five banks. The investors prior to this latest run up had already lost 95% of their investment so they have little to loose and you don't have to pay bonuses to people who no longer work for you. As we have seen by where the bailout money has gone it's apparent it isn't working. Remember please the bailout was approved before Obama and anybody who thinks a 10 spree can be changed in 6 months is smoking some damn good weed.
ReplyDeleteanybody who thinks a 10 spree can be changed in 6 months is smoking some damn good weed.
ReplyDeleteI've smoked some of the best and even that stuff that would damn near make you hallucinate wouldn't be strong enough to cover over the smell of what OBOMBA is pushing onto the public.
It's Bush Lite, and no, that's not a watery American beer.
I guess the president doesn't follow Goldman Sachs, which paid out a company record $11B in pay and bonuses after grabbing $10B from taxpayers.
ReplyDeleteGee, let's see...
$11B (GS) vs. $165M (AIG)
110% of taxpayer funds (GS) vs. 0.1% of taxpayer funds (AIG)
http://fdralloveragain.blogspot.com/2009/03/obama-outraged-aig.html
Why is he all choked up? He voted for the bailout.
ReplyDelete