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Cargando... The Escape Artists: How Obama's Team Fumbled the Recoverypor Noam Scheiber
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It's a fine in depth study of how the president, Summers, Geithner, et al just blew the stimulus by not making it large enough. Analysis of Obama's attempts to compromise with the Repugs really validates everything I thought - YOU'RE THE PPESIDENT, DO SOMETHING! - that he searched for reasonableness and compromise for way, way too long. I am sorry to say that he underestimated the blatant racism and veniality of his opponents and it cost us.
The people who were thrown from their homes, by cheating banks, lying rating agencies, and greedy CEOs and hedge funders, can never be repaid. And Geithner, who did not come from a banking background, but was a regulator - was incapable of recognizing the human costs of his decisions, and how the exploding housing bubble and lack of jobs, persisting to this day, were far more important crises than the deficit. They let the deficit baboons drive the bus. ( )