CounterPunch: Trying to Revive the Bubble Economy: Obama's Awful Financial Recovery Plan

CounterPunch by Michael Hudson | Feb. 13, 2009 (Special Report)
This is a major expansion of Dr Hudson’s piece that ran for some hours on yesterday’s site. AC/JSC

Martin Wolf started off his Financial Times column for February 11 with the bold question: “Has Barack Obama’s presidency already failed?” The stock market had a similar opinion, plunging 382 points. Having promised “change,” Mr. Obama is giving us more Clinton-Bush via Robert Rubin’s protégé, Tim Geithner. Tuesday’s $2.5 trillion Financial Stabilization Plan to re-inflate the Bubble Economy is basically an extension of the Bush-Paulson ... Full Story »

Posted by Doug Greer

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Subjects: World, U.S., Politics, Business
Topics: Global Economy, U.S. Economy, Money and Politics
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Posted by: Posted by Doug Greer - Feb 13, 2009 - 1:10 PM PST
Reviewed by: Doug Greer (review), Jack Dinkmeyer (review)
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Edited by: Doug Greer - Feb 13, 2009 - 1:10 PM PST
Related Comments: Global Economy (2)

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Jack Dinkmeyer
3.5
 by Jack Dinkmeyer - Feb. 14, 2009

An opinion piece criticizing the role of “too-big-to-fail" banks and their roles helping to cause our economic mess, and the outrageous extent to which they will still benefit from the stimulus largess. Although I agree with the article, I couldn’t rate it as highly as I wanted due to “use of sources”, “transparent”, etc. because it 's opinion.

Democrats are using the wrong Roosevelt as their hero. Rather than FDR, it should be Teddy. If we’re to change from even more "business as usual", Obama needs to do some trust busting: breaking up giant, unmanageable financial oligarchies and monopolistic businesses into smaller manageable financial institutions and corporations, stripping everyone of their invincibility.

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Doug Greer
5.0
 by Doug Greer - Feb. 13, 2009
Doug posted this story.
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