Tuesday, March 31, 2009

Very Interesting Piece on Common Dreams.org via Salon.com

Is Obama Wrong? by Joan Walsh

A left's view on the current economic showdowns. Interesting read!

Excerpts:

""All of that might seem like ancient history -- Obama's moving to clean up the mess, right? Except Johnson, like Krugman, believes that the continued power of the financial oligarchy makes real reform impossible. A former chief economist for the IMF, Johnson sees scary similarities between the behavior of U.S. political and business leaders, and the titans of the corrupt and ultimately bankrupt economies the IMF had to work over during his time there:""

""A few Democratic heroes spoke against the bill -- North Dakota Sen. Byron Dorgan and, not surprisingly, the late Paul Wellstone. ''I think we will look back in 10 years' time and say we should not have done this but we did because we forgot the lessons of the past, and that that which is true in the 1930's is true in 2010,'' Dorgan said presciently.""

"" I can't help thinking that Tim Geithner is too close to the industry that took over -- and took down -- the economy to tame it. A large part of the Democrats' resurgence in the last four years, ironically, has been its success raising money from Wall Street, which undermines its populist street cred at a time like this.""

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