[eDebate] nytimes op-ed: OBAMA SUCKS ON THE ECONOMY

bandana martin drmosbornesq
Mon Jun 8 14:53:15 CDT 2009

can somebody tell me how to delist myself from edebate? im serious.

On Mon, Jun 8, 2009 at 12:55 PM, Old Strega <oldstrega at hotmail.com> wrote:

>  go and read the whole article
> http://www.nytimes.com/2009/06/07/opinion/07cohanWEB.html?_r=1
> Mr. Obama thinks that the way to revive the economy is to restore
> confidence in it. If the mood is right, the capital will flow. But this
> belief is dangerously misguided. We are sympathetic to the extraordinary
> challenge the president faces, but if we?ve learned anything at all two
> years into the worst financial crisis of our lifetimes, it is that a
> capital-markets system this dependent on public confidence is a shockingly
> inadequate foundation upon which to rest our economy.
> We have both spent large chunks of our lives working on Wall Street,
> absorbing its ethic and mores. We?re concerned that nothing has really been
> fixed. We?re doubly concerned that people appear to feel the worst of the
> storm is over ? and in this, they are aided and abetted by a hugely popular
> and charismatic president and by the fact that the Dow has increased by 35
> percent or so since Mr. Obama started to lay out his economic plans in
> March. But wishing for improvement and managing by the Dow?s swings are a
> fool?s game. (Disclosure: One of us, Mr. Lewis, was convicted on federal
> charges of stock manipulation in 1989, pardoned by President Bill Clinton in
> 2001 and had his lifetime trading ban overturned by the Securities and
> Exchange Commission in 2006; documents relating to the case can be found at
> sblewis.net <http://www.sblewis.net/SBLewis.net/home.html>.)
> The storm is not over, not by a long shot. Huge structural flaws remain in
> the architecture of our financial system, and many of the fixes that the
> Obama administration has proposed will do little to address them and may
> make them worse. At another fund-raising event, for Senator Harry Reid,
> President Obama said<http://www.whitehouse.gov/the_press_office/Remarks-by-the-President-at-a-fundraiser-for-Senator-Harry-Reid-5/26/2009/>:
> ?We didn?t ask for the challenges that we face. But we are determined to
> answer the call to meet those challenges, to cast aside the old arguments
> and overcome the stubborn divisions and move forward as one people and one
> nation .... It will take time but I promise you, I promise you, I?ll always
> tell you the truth about the challenges we face.?
> Keeping that statement in mind ? as well as an abiding faith in the
> importance of properly functioning capital markets ? we have come up with a
> set of questions meant to challenge a popular president, with vast
> majorities in Congress, to find the flaws in the system, to figure out
> what?s being done to fix them and to get to the truth about the difficulties
> we face as we set out to restore the proper functioning of our markets and
> our standing in the world.
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