Imposition 2012-The Obama Failure(s)

   The economic system was near collapse because of the bad mixture of policies adopted by his immediate predeccesors. Mr. Obama could have seized the moment but his overall lack of administrative experience and initiative made him timid, incapable or both.

   For his chief economic advisers, Mr. Obama chose Lawrence Summers and Tim GeIthner. Mr. Summers so impoverished the Ivy League school he led, it took a decade for them to recover from his brief administration.

   Mr. Geithner was almost not confirmed for his post because he had mis-filed his income taxes. His explanation was he had misstated a few lines doing his own taxes with the softward program Turbo-Tax.

   Mr. Geithner was the fellow Mr. Obama chose for TREASURY SECRETARY. 

   Wall Street found it fairly easy to get around Mr. Geithner. Reportedly, Mr. Geitner did not want executive compensation limited, so he did nothing to keep (then) Senator Chris Dodd from including any limits on said compensation from his banking reform legislation. Enormous bonuses were paid to executives of failing banks and investment companies from the public taxes. 

   Mr. Obama needs to do a lot better in his second term.

 

Opinions expressed here are mine alone.

 

2 thoughts on “Imposition 2012-The Obama Failure(s)”

  1. I had thought the protest Wll Street camps would have devried, to their greater accomplishment if they had, that very situation. It seemed that companies which were to big to fail; some allowed and others forced to take loans from the gov’t., then used that TARP money to pay their administrators ellaborate bonuses, and left the marginally creditable with whom they had qualified for those TARP loans by mortgaging those questionable applicant’s homes, with undervalued housing and temeritous futures in their homes.
    Sheesh! I cannot even describe it easily. If Pres. Obama had given that money to the mortgagees they could have spent that money into the economy at large at least.
    Now we are left waiting for the Obama trickle down.

  2. Please substitute above:
    ‘Wall Street’ for ‘Wll Street’
    ‘decried’ for ‘devried’
    and
    ‘too’ for ‘to’
    sorry <8~}

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.