Only need to keep two names of people that Obama nominated/appointed in mind regarding this disaster: Tim Geithner and Ben Bernanke.
Even Paul Krugman gave credit to Obama for preventing a more painful market crash in 2008. However, it's clear that the decision to save this totally, completely dysfunctional system with no strings attached and then only impose heavily compromised regulations that were mainly to be subjectively executed by the two aforementioned protectors of the powerful - was/is a disastrous mistake.
Even though the Obama apologists will rant about how it's the fault of the obstructionist republicans, the fact remains that the demand for a systemic restructuring fell on his shoulders - his own staff and a Dem Congressional majority. And he failed.
He picked the wrong people (2 noted above) and the wrong strategies to get the job done. It doesn't matter that the effects of Obama's efforts (essentially changed nothing) was basically republican wishes. The fact is that republicans imposed their will on a President that had all the public behind him and a party majority.
The 'insider' books a tell the story of a President morbidly terrified of conflict whose motto is "do no harm." Well, by tip-toeing around our biggest problems, Obama's done tremendous harm.
Times like these demand that jellyfish like the President get out of the way for real leaders and visionaries. Of course, romney isn't the answer either. Right now, the inmates run the asylum.
No comments:
Post a Comment