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Obama's Missing the Opportunity the Banking Crisis Presents

By   Follow Me on Twitter     Message Andrew Bard Schmookler     Permalink
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On Thursday, with the AIG-bonus scandal breaking, I found ideas –concerning Obama and the handling of the economic crisis—just tumbling out of me. I posted them as they came –on…-- some 3,000 words—and now I will attempt to order and condense them into a more coherent and manageable presentation.

I would love for my worries about Obama’s present course to be misguided. I’d love it because I’ve loved seeing this guy’s wisdom and genius and singing his praises more than seeing him making a serious mistake. I’d love it because the nation would be a whole lot better off if I’m wrong. And I’d love it because it seems increasingly clear that Obama has chosen his course and will be sticking with it.

But this is how it looks to me. And not just me.

These thoughts, the more free-flowing original form of which were written last Thursday at http://www.nonesoblind.org/blog/?p=2229, were partly sparked by a piece by E.J. Dionne about the need for Obama to get out in front of “populist anger.” In the ensuing days, a whole chorus of voices have been addressing such themes.

I hope we’re all wrong.

************************ 

There are two dimensions of this economic crisis: the technocratic dimension (how to get the system out of the ditch and back onto the road) and the “morality play” (how to deal with the forces of greed and corruption that drove the country –and the world—into this disaster).

Obama is, most unfortunately, in danger of blowing it on both accounts.

The Stakes: The stakes couldn’t be higher.

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Andy Schmookler, an award-winning author, political commentator, radio talk-show host, and teacher, was the Democratic nominee for Congress from Virginia's 6th District. His new book -- written to have an impact on the central political battle of our time -- is (more...)
 

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