Barack Attacked -- From the Left - Mercedes-Benz Forum

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post #1 of 8 (permalink) Old 03-29-2009, 11:15 PM Thread Starter
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Barack Attacked -- From the Left

America’s liberals lay into Obama

By Edward Luce in Washington

Published: March 27 2009 23:32 | Last updated: March 27 2009 23:32

The liberal backlash against President Barack Obama has begun with many prominent left-leaning economists in the US attacking the administration’s plans to bail out the banks.

Paul Krugman describes the toxic asset purchase plan as “cash for trash”. Jeffrey Sachs calls it “a thinly veiled attempt to transfer hundreds of billions of US taxpayer funds to the commercial banks”. Robert Reich depicts Tim Geithner, Treasury secretary, as a prisoner of Wall Street while Joe Stiglitz says the plan “amounts to robbery of the American people”.

On the blogosphere and beyond, Democratic economists accuse Mr Obama – along with Mr Geithner, and Lawrence Summers, the president’s senior economic adviser – of taking dictation from the same financiers who have brought the economy to the brink of depression.

Mr Reich, who was Bill Clinton’s Labour secretary in the 1990s before resigning over the former president’s reluctance to pursue a strong public investment agenda, says that he and his colleagues fear a replay of the Clinton years under Mr Obama...
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post #2 of 8 (permalink) Old 03-29-2009, 11:33 PM
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Well you did just say Muffin was leaning more to the left........
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post #3 of 8 (permalink) Old 03-30-2009, 12:14 AM
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Here's a zinger from the article.

“Bill Clinton chose to pursue a set of policies that Wall Street agreed with but at the expense of his long-term agenda of boosting public investment,” says Mr Reich. “Bill Clinton’s Wall Street agenda in the end brought America and the world crashing down with it. I hope we are not seeing history repeat itself with Mr Obama.”
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post #4 of 8 (permalink) Old 03-30-2009, 07:53 AM
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if the left and right are both made at Obama, he's probably doing something right.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
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post #5 of 8 (permalink) Old 03-30-2009, 08:12 AM
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Originally Posted by mlfun View Post
Here's a zinger from the article.

Not exactly a zinger but an opinion.

Reich has always been pissed at Clinton because he gave Clinton advise and Clinton chose to go a different way. There were, as in all administrations a clash of egos at times and he got his bruised. He seems to spend a lot of time trying to prove that he was right when reality doesn't always agree or disagree.

Clinton's Wall Street Agenda didn't bring America crashing down. His refusal to veto Gramm, Leach, Bliley may have greatly assisted that but that is a different matter. On GLB he at least required some regulations to remain in the final version of the bill.

Wonder if the Republican obsession with his personal life had anything to do with his willingness to compromise? Dominoes come and go from odd directions.


Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
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post #6 of 8 (permalink) Old 03-30-2009, 09:29 AM
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Originally Posted by mlfun View Post
Here's a zinger from the article.

Yes, of course it's always Clinton's fault right?

Originally Posted by FeelTheLove View Post
if the left and right are both made at Obama, he's probably doing something right.
Damn skippy.
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post #7 of 8 (permalink) Old 03-30-2009, 09:49 AM
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Is it a sign? Are they beginning to eat their own? Maybe a little premature to make that prediction just yet.

Stay tuned for a good battle. Everyone who supported The Big Zero wants a part of the grabfest.
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post #8 of 8 (permalink) Old 03-30-2009, 09:53 AM
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Not this shit again. Why wait for the news? Make it.
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