Wednesday, February 25, 2009

'Indecision On The Financial Crisis'

From Big Tent Democrat here.

Why was I asking for specifics in President Obama's speech last night? Because the severe problems we face need more than vague platitudes. To put it bluntly, the Obama Administration is fiddling while our financial system burns. Here is Krugman on the nonexistent plan for the financial crisis:

Ben Bernanke’s testimony over the past two days gives us our best clue yet about where the administration and the Fed are going with bank rescue. And the answer seems to be … nowhere. . . . More and more, it looks as if we’re headed for the decade of the living dead.

Pretty speeches in February 2009 won't be worth a hill of beans in elections in November 2010 and 2012.

No comments: