This is plainly a capable, close-knit group, acting with energy and commitment. Deficiencies of their program cannot, therefore, be blamed on incompetence. Rather, if deficiencies exist, they probably result from their shared background and creed – in short, from the limitations of their ideas.

JG takes a kind view of what defines incompetence. Not up to the task lies beyond the scope of competence.

The most likely outcome, should the Geithner [banking] plan go through, is a combination of looting, fraud, and a renewed speculation in volatile commodity markets such as oil. Ultimately the losses fall on the public anyway, since deposits are largely insured. There is no chance that the banks will simply resume normal long-term lending. To whom would they lend? For what? Against what collateral? And if banks are recapitalized without changing their management, why should we expect them to change the behavior that caused the insolvency in the first place?

There are buy opportunities out there if you are brave and foolish.

The oddest thing about the Geithner program is its failure to act as though the financial crisis is a true crisis – an integrated, long-term threat – rather than merely a couple of related but temporary problems, one in banking, and the other in jobs.

In short, if we are in a true collapse of finance, our [standard] models will not serve. … Our modern numerical models just don’t capture the key feature of [the Great Depression] – which is, precisely, the collapse of the financial system.

AIGFP bonuses is a crisis for the spin doctors, not the people who are dealing with the total collapse of the world as the National Economic Council knows it.

The New Deal rebuilt America physically, providing a foundation … from which the mobilization of World War II could be launched. But it also saved the country politically and morally, providing jobs, hope, and confidence that in the end democracy was worth preserving. There were many, in the 1930s, who did not think so.

What did not recover, under Roosevelt, was the private banking system… The liquidity trap wasn’t overcome until the war ended.

C’mon folks. We’ve got real problems to deal with. Let’s get moving.

Today the largest problems we face are energy security and climate change—massive issues because energy underpins everything we do, and because climate change threatens the survival of civilization. And here, obviously, we need a comprehensive national effort.

…with Krugman, Stiglitz, (sp?) Galbraith, Roubini, Baker still available. hell, name Elizabeth Warren

Now THAT sounds like an economic advisory team!

I’d like to see the president of a small,successful local bank taking over this madness. Those little banks didn’t do all this madness that caused the crash because they have to face the people who have money in their banks.

Or,let some of us parents,who have to live within our means to feed our kids explain to these wastes of space how to deal with reality and actual finances.

I gotta go do something else,I’m so pissed I’m in tears. Fuck these assholes sideways with a rusty pitchfork.

btw, the Dodd-did-it story showed up on Kos front page last evening – how that could have happened with Jane and Glenn’s reportage out there is beyond me

as to who actually did what – still clear as mud

Kristof wonders if getting our news on the web makes us more partisan. He feels that we should read more of the side with which we disagree. I have tried doing that; reading those sites does nothing except show that the repugs have nothing but ad hominem, character assassination or simply lies to support their positions. Again, all progressives have to do is quote them their own words as Jon did so effectively to Cramer. There has been no defense except to call Jon a “hack” or wish that “someone” would call him out.

http://www.toontracker.com/nutty/uhoh.ram

and by the way

TERM LIMITS

will solve a whole lot of the nepotism, cronyism, corruption, legal bribery, elitism and cost less money.