Monday, March 09, 2009
The Obama administration's war on business
Item. And then there is this bit:
President Obama's team, unlike Bush's team, demonstrates a thinness of skin that shocks me. When I somewhat obviously and empirically judged that the populist Obama administration is exacerbating the crisis with its budget and policies, as evidenced by the incredible decline in the averages since his inauguration, I was met immediately with condescension and ridicule rather than constructive debate or even just benign dismissal. I said to myself, "What the heck? Are they really that blind to the Great Wealth Destruction they are causing with their decisions to demonize the bankers, raise taxes for the wealthy, advocate draconian cap-and-trade policies and upend the health care system? Do they really believe that only the rich own stocks? What do they think we have our retirement accounts in, CDs? Where did they think that the money saved for college went, our mattresses? Do they think the great middle class banks at the First National Bank of Sealy and only the wealthiest traffic in the Standard & Poor's 500?"...
Don't get me wrong, Obama was dealt a terrible hand by the previous croupier. But this administration's handling of the banking crisis, something that has brought Citigroup (Stock Quote: C), Bank of America (Stock Quote: BAC), Wells Fargo (Stock Quote: WFC) and even JPMorgan Chase (Stock Quote: JPM) to their knees, has been devastating....
My suggestion is that Obama hand management of the banking crisis over to the State Department and Russian translation over to Treasury. At least then we will be repeating our mistakes with different players.
MORE: A commenter notices that this is pretty relevant, too.
CWCID: Glenn Reynolds.
5 Comments:
By 
Bobar the Bobarian, at
Mon Mar 09, 11:20:00 PM:
http://www.slate.com/blogs/blogs/kausfiles/archive/2009/03/09/obama-buffetted.aspx
This also seems relevant.
By SR, at
Mon Mar 09, 11:24:00 PM:
There are none so blind as those who will not see. The scales are finally falling from Kramer's eyes.
Some day he will finally come to the conclusion that the left's social and economic views are of a piece.
By Elise, at
Tue Mar 10, 01:42:00 AM:
This comment has been removed by the author.
By Elise, at
Tue Mar 10, 01:43:00 AM:
Apparently Buffet is too important for the White House to Cramer-ize so instead Gibbs has taken what Buffet said, done a little data dropout, elided a little, and placed Buffet firmly in Obama’s camp. According to Gibbs, Buffet said: Democrats and Republicans are going to have to work together; saying “No” isn’t an economic policy; we’re not likely to fix this soon; and Obama has urgently pursued a recovery plan.
I guess Buffet’s references to the Democrats rolling Republicans; finger-pointing at the previous administration; inserting 10 pet projects into a “war” bill; the majority inflaming the minority; and not expecting people to unite behind you when you’re jamming things down their throat were just visual hallucinations. Maybe it’s the late hour that’s making my eyes play tricks on me. (I hate going on Daylight Savings Time.)
By 
, at
Tue Mar 10, 12:33:00 PM:
Ask Hassett when the dow will hit 36,000.
