"There are simply too many major players in the Obama team who are either alumni of the financial bubble’s insiders’ club or of the somnambulant governmental establishment that presided over the catastrophe.Even before the president appointed these folks to his staff, liberal and progressive bloggers have shouted out loud and clear – NO! This week, it looks like President Obama is going to become more personally committed to a new direction. Let's hope so. The real work will begin when the income disparity between employers and employees is narrowed, so that the majority of American workers are spending discretionary income into the economy rather than credit card debt. More...
This includes Timothy Geithner, the Treasury secretary. Washington hands repeatedly observe how “lucky” Geithner was to be the first cabinet nominee with an I.R.S. problem, not the second, and therefore get confirmed by Congress while the getting was good. Whether or not this is “lucky” for him, it is hardly lucky for Obama. Geithner should have left ahead of Daschle.
Now more than ever, the president must inspire confidence and stave off panic. As Friday’s new unemployment figures showed, the economy kept plummeting while Congress postured. Though Obama is a genius at building public support, he is not Jesus and he can’t do it all alone. On Monday, it’s Geithner who will unveil the thorniest piece of the economic recovery plan to date — phase two of a bank rescue. The public face of this inevitably controversial package is now best known as the guy who escaped the tax reckoning that brought Daschle down."
Monday, February 9, 2009
The Media Begins Reading Progressive Blogs
Finally, the mainstream media is beginning to read the progressive blogs that for years have been telling truth to power: alternet.org, TruthOut.org, TomDispatch.com, and The NationNew York Times, entitled "Slumdogs Unite!" Rich identifies the neoliberal economists in the Obama administration that potentially can destroy public trust in his administration and undermine his economic recovery plan. He writes: