Saturday, March 28, 2009

Obama's Timid Orthodoxy

Alexander Cockburn, acerbic writer from the middle-to-far left of the political spectrum, says what many are probably thinking but not saying:

So Geithner gets pelted with mouldy cabbages, while Obama -- entirely responsible for the basic economic strategy of bailing out the banks rather than taking them over – charms the nation.

It won’t go on forever. If things go badly , the peple know perfectly well where the buck stops. There’s already a powerful drumbeat of disquiet that Obama, for all his smoothness, is Hoover-like in his timid orthodoxy. Back from the political graveyard last week came former N.Y. governor Eliot Spitzer arguing in a strong column in Slate that Obama’s $200 billion payoff to AIG was the real scandal, not the $180 million in bonuses.

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