Do We Need A Sesame Street Special On the Economy?

A new national poll released Friday shows that Americans are feeling more optimistic about the economy than they were in January 2010.  While this is good news, there is still work to be done.

Given the nearly-catastrophic downturn in the economy, most Americans would agree that regulation of the financial markets needs to change.  Unfortunately, a quick scan of the weekend’s “talking heads” shows reveals that the same tired partisan bickering and gamesmanship may derail the proposed financial reform legislation that may be debated in the Senate this week.  Neither party is blameless.  Conservatives are criticizing the proposed $50 billion fund to “close out” failing banks, while liberals are being accused of pushing ahead with the bill without sufficient negotiation with the opposition.

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Do We Need A Sesame Street Special On the Economy?

A new national poll released Friday shows that Americans are feeling more optimistic about the economy than they were in January 2010.  While this is good news, there is still work to be done.

Given the nearly-catastrophic downturn in the economy, most Americans would agree that regulation of the financial markets needs to change.  Unfortunately, a quick scan of the weekend’s “talking heads” shows reveals that the same tired partisan bickering and gamesmanship may derail the proposed financial reform legislation that may be debated in the Senate this week.  Neither party is blameless.  Conservatives are criticizing the proposed $50 billion fund to “close out” failing banks, while liberals are being accused of pushing ahead with the bill without sufficient negotiation with the opposition.

There's more...

Is it policy or is it theater?

A front page entry talks about Obama's new proposal regarding the banking system. While Josh Orton points out a regrettable phrase, actually there are bigger problems. For one I seriously question the sincerity of this administration to take on "too big to fail" banks.

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Is Larry Summers (or Bernanke or Geithner) about to be let go?

The move by President Obama to follow the ideas of Pal Volcker seems to push directly into <a rel="attachment wp-att-3476" href="http://underthelobsterscope.wordpress.com/2010/01/21/is-larry-summers-or-bernanke-or-geithner-about-to-be-let-go/summers/"><img class="alignleft size-full wp-image-3476" title="Summers" src="http://underthelobsterscope.files.wordpress.com/2010/01/summers.jpg" alt="" width="100" height="150" /></a>the face of heretofore financial advisor Larry Summers.

Summers was not in favor of ANY of the things Volcker has brought  into view. He did not want to regulate the banks. He did not want all things happening in the open. And he certainly didn't want to put any size restrictions on banks that become "Too big to fail."

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Is Larry Summers (or Bernanke or Geithner) about to be let go?

The move by President Obama to follow the ideas of Pal Volcker seems to push directly into the face of heretofore financial advisor Larry Summers.

Summers was not in favor of ANY of the things Volcker has brought  into view. He did not want to regulate the banks. He did not want all things happening in the open. And he certainly didn't want to put any size restrictions on banks that become "Too big to fail."

There's more...

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