If you haven’t seen this video, you should. I’m not sure Paul Krugman has all the answers, but he’s been making some good points recently. For example, here are his thoughts on the Geithner “cash for trash” plan:
This is more than disappointing. In fact, it fills me with a sense of despair.
After all, we’ve just been through the firestorm over the A.I.G. bonuses, during which administration officials claimed that they knew nothing, couldn’t do anything, and anyway it was someone else’s fault. Meanwhile, the administration has failed to quell the public’s doubts about what banks are doing with taxpayer money.
And now Mr. Obama has apparently settled on a financial plan that, in essence, assumes that banks are fundamentally sound and that bankers know what they’re doing.
It’s as if the president were determined to confirm the growing perception that he and his economic team are out of touch, that their economic vision is clouded by excessively close ties to Wall Street. And by the time Mr. Obama realizes that he needs to change course, his political capital may be gone.
That sounds about right, doesn’t it? Regardless, the song and video are fun and add a much-needed bit of levity to this whole bailout debacle.
If you like that, also check out Jonathan Mann’s website where he’s posting a song/video every day. I’ve also been enjoying “My Obama Neurosis (In the Key of C).” It succinctly and humorously captures the ambivalence and bewilderment I’ve been feeling about our new president.