The Phoenix

Has Obama's Presidency Already Failed?

That's the question that Martin Wolf is asking in the Financial Times, as Timothy Geithner produces a lemon to deal with the problem of our insolvent banks. This is no right-winger speaking, by the way. Wolf comes at the problem from, if anything, the other side and concludes (as I do) that it's time to talk about temporary nationalization if we're to address the crisis in time. For the reasons why, read about it here and here.

Once elected, Obama needed to come up with a bold plan to save the economy that he could put in place on January 20. Almost incredibly, it seems he did nothing of the sort -- leaving it to Congress to draft the stimulus and others, like Geithner -- a friend to millionaire bankers everywhere -- to sort out the bank bailout.

There's real trouble, right here in River City. If people lose confidence in Obama and the U.S. -- and it's happening already -- it will take years to dig ourselves out.

Published Feb 11 2009, 06:30 AM by Steven Stark

David Kish said:

Good question, Steven. An article in Harper's from over two years ago outlined the flow of money from corporations, lobbies and power brokers into the hands of the three people who, according to Harper's, had enough cash to become president: McCain, Clinton and Obama. These three were our only choices well before the primaries; elections do not decide these things. Obama was, and is, the bank man in the bunch having cuddled up to the banking executives whose grotesque salaries he now cynically derides. This begs another question: When will liberals stop obsessing over race and gender and start actually paying attention to what's going on?

February 11, 2009 11:06 AM
jeffery mcnary said:

candidate change morphed into president-elect cool and has now become president fussy and narrow. change you can count on. as his cronies in chicago continue to wrestle over the olympics with the activist community there, we'll witness 1968 all over again. and as putin and others around the planet continue to laugh at valerie jarrett and gaithner, hillary will emerge in two years...and mount a challenge, only to lose to the republican hse. whip from virginia. i learned these things from a holy man.

February 11, 2009 1:23 PM