Mush from The One
In all countries there is an understandable tension between the steps that are needed to kick start the economy and the fact that many of these steps are very expensive and tax payers have a healthy scepticism about spending too much of their money, particularly when it is perceived ...
.... that some ....
... of the money is being spent not on them ...
That's not a perception! TARP -- written by Democrats, and whipped by the then Democratic President-elect -- was passed NOW NOW NOW NOW without so much as a hearing, while the rest of us peasants are still waiting for housing help, let alone even the watered-down, half-assed, pissant, sucking-up-to-the-health-insurance-parasites health insurance "reform" that Obama's pushing. The money is NOT being spent on us. Do you think we're idiots? (Chart via the Agonist).
... but on others who they perceive....
There's that word again!
may have helped precipitate the crisis.
Like I said, mush. "May" and not did? "Helped" and not were responsible for? "Precipitate" and not cause?
Last I checked, I didn't leverage my house 30 to 1 and then lose the money I borrowed by betting it on the ponies. And I didn't take billions of dollars in bonuses for doing it, either!
So that [What? Perception management?] is always going to be a challenge and what’s also difficult is the fact that the policies we initiate all take time to take effect and by its very nature politics looks for more instantaneous gratification.
For Fuck's sake, I'm not looking for "instantaneous gratification."
I'm looking for transparency and accountability in the way the administration is dumping trillions of dollars into the enormous hole* that the banksters created and profited from.
That's what would gratify me.
And you'd think that a party and a President with a single "progressive" bone in their bodies would be willing -- no, eager -- to do just that. But n-o-o-o-o-o-o-o!
Plus ça "change," plus c'est la même chose....
NOTE * "America needs the money hole!"
Ian Welsh gets it right: Barack Obama would rather chew razor blades than re-organize and regulate financial capitalism. He will not reinstitute Glass/Steagall, he won't break up the big banks, he won't investigate fraud, he won't limit leverage, he won't reinstitute Reagan-era progressive tax rates.
Thanks, "creative" [cough] "class"!