The problem for the Obama administration is that, at least as far as confronting the power of the banking and insurance industries which are held in general derision by the American people of all political stripes, he has hamstrung himself with two advisors whose counsel has been politically disastrous to the admin - Timothy Geithner and Larry Summers, two figures whose closeness to those industries is proving far more a liability than the asset I am sure the administration hoped it would be.
Like it or not, the gestalt of the time is that the bankers who'd brought the economy to its knees should in their turn be brought to heel. Now was not the time to put into prominent positions such consistent and long-established Wall Street ass-kissers (thinking especially of Geithner here). People want their pound of flesh, and frankly, with falling wages and nearly 1 in 5 Americans unable to find proper work largely because of these entitled banker millionnaire's handiwork, they deserve it.
My guess, in my belief that Obama is an intensely intelligent and considered man (the latter unfortunately in these times not necessarily a virtuous quality), one or both (and almost assuredly Geithner)of these advisors will be gone before November. Hopefully, very visibly. And, it increasingly appears, Bernie Sander's highly virtuous hold on Bernanke's mistaken re-nomination will provoke a rejection of the third bad leg of Obama's economic policy stool... Fai de bèn a Bertrand, te lou rendra en cagant
And he's not trying to do anything to solve the problem. In the long run, we're all dead. John Maynard Keynes
...it increasingly appears, Bernie Sander's highly virtuous hold on Bernanke's mistaken re-nomination will provoke a rejection of the third bad leg of Obama's economic policy stool.
