In today’s report on the foreclosure mess, a revealing sentence:As Krugman has said a bunch of times, we'll never know what could have been if Obama had been more aggressive, but we do know this wasn't good enough.
As the foreclosure abuses have come to light, the Obama administration has resisted calls for a more forceful response, worried that added pressure might spook the banks and hobble the broader economy.Surely this can serve as a generic statement:
As NAME ISSUE HERE has come to light, the Obama administration has resisted calls for a more forceful response, worried that added pressure might spook the banks and hobble the broader economy.Stimulus, bank rescue, China, foreclosure; it applies all along. At each point there were arguments for not acting; but the cumulative effect has been drift, and a looming catastrophe in the midterms.
Tuesday, October 19, 2010
Fearful Of Real Change
This is painful to read, but Krugman nails it:
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