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Thanks!

Dan

Your analysis is once again spot on. The road to hell is paved with good intentions. I think Obama genuinely believes he can clean up Washington and get a stimulus package that can help revive the flat-lined economy. The problem is, he can’t. When there’s one rotten apple in the barrel you throw out the apple. But in this case it’s the whole barrel. Geithner and Daschle are just two high profile examples. Greed, moral turpitude, avarice, and the self-righteousness and mendacity of the leadership on Wall Street and in D.C. is beyond repair, beyond comprehension by hard-working, law-abiding citizens, and truly beyond the pale of acceptability. Yes, it’s astounding that Geithner is now TS. Not only did he defraud the agency he’s now sworn to uphold, but he has also been the FOMC’s lapdog for years and has aided and abetted the Wall Street’s implosion. But on the other hand these vignettes just reinforce the belief among those of us who have our eyes open, that the U.S. hasn’t even begun to feel the pain yet. The sooner we get through the “really bad stuff” the sooner this country can get back on it’s feet and truly provide unfettered access to the stuff that American dreams are made of.

NK

At the end you express concern that $800 Billion or more in “stimulus” is taxpayer money being “squandered” when it really might be needed elsewhere.

Yet, earlier you insist that the stimulus is not Obama’s focus – instead he wants to fix the banking system.

Are you suggesting that Obama & team really need to be managing both issues? Or are you arguing that if his team can fix the banking / financial system, then keeping congress distracted playing in their sandbox with $800 billlion is worth it.

Thanks

Yet… why do I agree with everything of yours I’ve read here?

Have you read Arnold Kling’s analysis of the financial crisis, bailout, and stimulus? Deeply libertarian, his recomendation is to let the insolvent banks fail, and let the FDIC clean them up. In another words, let the banking system built in the ’30s do its job.

He’d also outlaw a great deal of the recent “financial innovation”, like securitization, credit default swaps, etc. His writing on credit default swaps is outstanding.

When you’ve got leftists and libertarians agreeing on something… that’s a sure sign of the Apocalypse.

I agree, Geithner’s taxes should have knocked him out of the running for TS. Daschle should be put to pasture as well. I’m no fan of taxes, but blowing them off and not paying them is unacceptable from anyone.

Geithner is not the distraction, he is the “tell.” You will find this out very clearly when Daschle pulls out for the irrelevant Health Secretary position.

They got Geithner through and will abandon Daschle to show how “moral” they are.

Follow the money

I like this quote from ethicist Michael Josephson “We tend to judge ourselves by our best intentions and judge others by their worst actions.” Or as another famous ethicist said “Let he among you who is without sin cast the first stone.”

Great column Martin, this is the first time I couldn’t find something from you to disagree with. This “stimulus” bill is anything but, and everyone can see that.

I think Brian and Nashvillian have it right. Michael, keep your eye on the ball…the question about Geithner has always been whose job he will be doing there. And I am answering that for you.

Martin