Legal Commentary

Still Dithering

By Big Tent Democrat

As I have written previously the Obama Administration is not dealing with the financial crisis. Today, Krugman writes:

[Obama] officials still aren’t willing to face the facts. They don’t want to face up to the dire state of major financial institutions because it’s very hard to rescue an essentially insolvent bank without, at least temporarily, taking it over. And temporary nationalization is still, apparently, considered unthinkable.

But this refusal to face the facts means, in practice, an absence of action. And I share the president’s fears: inaction could result in an economy that sputters along, not for months or years, but for a decade or more.

Speaking for me only

Full post as published by TalkLeft on March 06, 2009 (boomark / email).