Krugman: Larry, Larry

(emphasis added)

Politics? Does that mean Obama is doing the for political gain?

Essentially Krugman thinks Summers and Obama hate this as much as he does however, its the only thing those two think is feasible.

Who knew this was part of Obama's job?

Then again, that's assuming this is what Krugman meant.

When your selling me manure tell me its manure. Don't try to tell me its gold.

My issue is no concessions are gotten from Wall Street to do this, just like before a free ride.

So you think Obama is running around telling people that these are the best of times?

"But I have reason to think that unlike the Bushies, they don’t really believe it; it’s just politics."



Well, not that exactly, but more like "the administration is doing what seems repulsive to the rest of us (letting the extremely wealthy take financial advantage of our economic disaster) in order to get a 'system' running again so that they can then make systemic fixes to said system.

It's distasteful, but I think it's the sort of thing the pragmatic president means when he says "I'm not going to govern out of anger".

where the market had failed?

Now he doesn't have confidence in the market?

I'm dizzy!

:rofl:

I don't think anyone's saying "hey, this creates a market, so it must be good." They're saying "We have to find some way to value these assets, and a market is the most familiar way." Krugman shouldn't extend his arguments passed the point of reasonableness.

It would be great if Krugman could share his concerns with the administration instead of his critiques on his blog.

But CAN take over and run large banks.

:wow:

Clear as mud.

:-)

I wasn't attributing it to you so much as clarifying it for myself.

:-)

The huge investment banks consider that they brought him into power and they expect to run things and get what they want from government.

Obama has been told they they want us to carry the burden of the toxic assets. They already expressed displeasure about that label so they are now renamed Legacy assets by Obama. (A term worthy of Bush's Clean Water Act which was a license to pollute.

Wall Street still wants Social Security money to invest. Bush floated it for them but failed to deliver when the people objected.I suspect they think Bush dropped the ball.

They expect Obama to deliver and Summers and Obama are already calling Social Security an "entitlement" that needs to be reformed. That is the code for privatizing some or all of it.

The Wall Streeters are the insincere Obama supporters-their money and influence got him into office (check opensecrets.com) but they have no interest in anyting but themselves.

The sincere Obama supporters are the people who want to change America for the good of all. Many of these have knee-capped themselves by insisting we and they must follow Obama without question or criticism in the HOPE he will work miracles-not realizing their King is captured.

So Wall Street is winning the battle and may well win the war. (So many people do not realize that our Financial Sector has been at war with us. It is the great unrecognized insurgency).

He's meeting with Indian firms and in favor of raising the quota of H-1B visas. There are at least 200,000 American IT workers unemployed and H-1B visa holders along with outsoucing are a ouple of the main reasons why.

Yeah, let's ENCOURAGE a brain drain.

This is an area where the populist Left and Right deserve each other. It is merely which country they are hating on: India for the Left and Mexico for the Right.

Shouldn't you get back to ordering some minimum-wage-slave to finish making your latte?