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