Did you watch the much anticipated interview of Obama on the Daily Show last night? The President had his own ‘Heck of a job, Brownie’ moment. I said several times, President Obama lost me the moment he appointed Summers to the economic team. Recap – Summers is a Wall Street crony and he was the chief architect of the banking deregulation via repeal of Glass Steagall act, which led to the current financial crisis. Quoting Vanity Fair:
Stewart’s most combative query concerned National Economic Council director Larry Summers—in particular, Obama’s hiring thereof. “We can’t expect different results with the same people,” Stewart said, referring to Summers’ previous stint as treasury secretary under Bill Clinton. He continued, “Larry Summers … that seems like the exact same person.” Obama, inadvertently quoting his imminently quotable predecessor, replied, “Larry Summers did a heckuva job.” Stewart, somewhat shocked, advised him, “You don’t wanna use that phrase…”
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| The Daily Show With Jon Stewart | Mon – Thurs 11p / 10c | |||
| Barack Obama Pt. 2 | ||||
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| The Daily Show With Jon Stewart | Mon – Thurs 11p / 10c | |||
| Barack Obama Pt. 3 | ||||
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Your views mirror mine in most of the things that are happening in this country.
Particularly with respect to right wingers who want to take us back to the days of 1770s. I call them the Taliban of American like their Muslim counter parts who want to take us back to 700s.
Now with Obama’s handling of the economy I am not too happy about it. Having said that he was dealt with a very bad hand and a very irresponsible republican party whose single agenda is just say ‘NO’ to Obama. Some of the measures early days of administration led to averting world wide economic collapse and also bailing out auto industry saved millions jobs. Unfortunately,
with 24 hr news cycle with right wingers making the loudest noise his achievements drowned. Remember these right wingers are no better than Taliban.. given a choice they would not people like me and you around here..
Mohan garu,
Yeah I have seen this and wanted to call you on MMGL to talk about this, but couldn’t get the line.
Anyway I am glad you posted it here. Obama is really cornered here. I think for the first time he is on the defensive. But I think what he will do is, later, he will say see I tried by all means and that he is not averse to compromise. In the same situation even Bush would not have appointed Summers! He might appoint someone worse, that is another issue. 🙂 but I am trying to highlight the problem with Obama approach. It doesn’t address the root cause but only workarounds and Banks are smart enough to rig the workarounds it looks like.
Thanks for the post.
Ramana