Time Will Tell

[rayboyusmc]

If this happens, will there be some pissed off righties on these threads?

No less a personage than Warren Buffett says these assets—which have been radioactive since the market crash last year—are now the most salable assets the banks have. That may mean the nation's most revered investor is ready to be among the first to jump big time into that market himself, which would be a major stimulus for Geithner's sagging rep. ........


No, Obama does not resemble FDR at the midway point of his first 100 days. There are some legitimate beefs with what he's done and how he's done it. "Given that they had two and a half months to get it ready, the first thing should have been kind of a 10-point plan articulated two hours after the inauguration," says Johnson. "Summers with Geithner at his side. Ten principles, details to follow. Then shut down a couple of big banks—there was plenty of time to do an orderly restructuring. And the last thing is, don't let Capitol Hill do the stimulus program. Now the money's going out too slowly. It's designed like a time release for reelection campaigns in 2010." Johnson also says the mortgage-restructuring proposal should have included a reduction in principal rather than just interest rates.

Still, many of these criticisms will fade into irrelevance—along with the grim jokes about Geithner's imminent dismissal—if the banking problem starts to come around. We've got 50 more days to go—time enough for Obama to come out looking Rooseveltian yet.

Hirsh: Obama's Job Is Harder Than FDR's | Newsweek Voices - Michael Hirsh | Newsweek.com