We have a “regulation czar,” but no new regulations. It seems we can expect little from those with a track record of enabling bad policies.
Does President Obama care about passing health care reform that truly gets costs under control and getting the nation's fiscal house in order or does he care more about getting re-elected?
On Monday, two men with considerable responsibility for enabling the banking meltdown confronted the error of their ways. Hopefully Timothy Geithner and Lawrence Summers' sudden conversion to common sense indicates the seriousness of the banking regulation plan that their boss, President Obama, will present to Congress today.
Two protesters storm the stage during a talk by Lawrence Summers, who tries to laugh off the incident. If only there were something funny about President Obama's top economic adviser making $8 million last year from some of the financial firms that have benefited from his economic policies.
The good news on the government’s “No Banker Left Behind” program is that, according to the special inspector general’s report on Tuesday, the total handout to date is still less than 3 trillion dollars. It's only $2.98 trillion, to be precise, an amount six times greater than will be spent by federal, state and local governments this year on educating the 50 million American children in elementary and secondary schools.
In the 21st century Gilded Age, the blue-collar shower-after-work crowd is given the tough, while the white-collar shower-before-work gang gets the love, and never before this week was that doctrine made so clear.
What's to be done about the floundering American automotive industry? Appoint a "car czar," you say? No, this is a job for a whole team of people, such as the newly formed Presidential Task Force on Autos. One small hitch: It'll be headed up by Timothy Geithner and Lawrence Summers.
Judging by the proliferation of capital letters in the e-mail correspondence I receive, many seem worried that Barack Obama may not deliver the promised "change we can believe in."
Barack Obama's appointees will implement the Obama program, not only because that is what he tells them to do but because that is what they have come to believe is best for the country.