I wonder how much President Obama, and back then President Bush, knows about how the financial crisis is being handled.
When one sees Obama explaining the 08-current financial crisis during stump speeches and rallies, he paints a picture more or less similar to the situation outlined by Talbott, i.e. banks over lending and the eventual burst of the bubble. But what Talbott argues here is that Geithner has set in motion a plan that is slow in nature and benefits the banks much more so than the consumer. The question then becomes: how much is Obama aware of Geither's (and Summers') plan, and does he show full support for it?
Read the Article at HuffingtonPost
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