Obamamerica part 1

[spence]

Originally Posted by buckman

I agree with that. Not sure why I'm so cynical. Maybe because the same bunch of idiots ( Barney Frank for one) that got us in this mess will have a hand in the plan. I just fail to see any change in the way this is going to be implimented. I need to see a black and white (excuse the analogy) plan that I can understand and then maybe I'll be more optimistic. I'm not sure anybody could explain where the hundreds of billions went from the last bail out.

Frank and Dodd certainly have a hand in the housing mess, but they are only two players in a much larger production and are being used, in my opinion, as scapegoats by the right wing press. I don't think they'll be all that influential moving forward, even if they do still hold key finance positions in Congress.

The government is trying to treat a disease with multiple and complex symptoms. Just like a doctor they have to prescribe something, see how the patient responds and adjust the medication accordingly.

Of course, there's always the possibility that they might mix bad meds or not start the healing fast enough and the patient dies.

I'm positive that that's not going to happen, but I would say the government was completely firing from the hip with the first installment of the bail-out.

While I don't think Obama's stimulus is perfect or any sort of a magic fix, at least is has the benefit of delivering tangible benefits and can be administered in a transparent manner. The hundreds of billions sent to our banks simply went into a vast black hole.

Allready it looks like the Obama Administration is going to set up a website where you can see exactly how stimulus money is being spent. This is indeed change!

-spence

[buckman]

Originally Posted by spence

Frank and Dodd certainly have a hand in the housing mess, but they are only two players in a much larger production and are being used, in my opinion, as scapegoats by the right wing press. I don't think they'll be all that influential moving forward, even if they do still hold key finance positions in Congress.

The government is trying to treat a disease with multiple and complex symptoms. Just like a doctor they have to prescribe something, see how the patient responds and adjust the medication accordingly.

Of course, there's always the possibility that they might mix bad meds or not start the healing fast enough and the patient dies.

I'm positive that that's not going to happen, but I would say the government was completely firing from the hip with the first installment of the bail-out.

While I don't think Obama's stimulus is perfect or any sort of a magic fix, at least is has the benefit of delivering tangible benefits and can be administered in a transparent manner. The hundreds of billions sent to our banks simply went into a vast black hole.

Allready it looks like the Obama Administration is going to set up a website where you can see exactly how stimulus money is being spent. This is indeed change!

-spence

Maybe if just once those two misfits would admit their roll in the crisis I would have a little faith. They were not by any means minor players.

I agree transparancy will be a welcome change. As long as it's not just a bunch of props.