http://news.aol.com/elections/article/obama-seeks-advice-on-ailing-economy/234237Why is Obama seeking advice on how to fix the economy?
Too avoid the massive failures of ';going it alone'; that the current moron in office made.Why is Obama seeking advice on how to fix the economy?
One of the hallmarks of a good president is to get the best advice and adapt it. Clinton had some of the best brains in the world. Obama shows that hes leaning that way too. Competency is a wonderful thing.
Its nice to see it coming back into style.
The Presidency of the US is a very multifaceted position, Obama never claimed to have all the answers, that was McCain during the second debate, when he was wandering around the stage. I know how to end the war, I know how to get Osama, I know how to fix the economy.
I hope he left plans to go with those words.
Common sense would dictate that he call upon specialists to advise him.
He studied Law and International Politics not Economics.
If your bathroom has a leak, call Joe the Plumber, if your economy is in collapse call an Economist.
Clearly he understands the political implications of the economy and understands that it is a global problem. An Economist would not have a broader view of the political implications, or the influence to do anything about it.
Because all he can do between now and Jan 20th after the speeches and before the balls as far as governance goes is sit in a lame duck congress if any one calls one.
He not only has policies to consider but positions down the deputy directorate level to fill. He wants to make certain he has the right policies to state in his inaugural speech, but also the right people to carry them out.
isn't it amazing , we have been on this forum for months asking questions and Obama supporters had them all because Obama was the man and knew everything , now you get answers like , ';he is a lawyer not an economist'; What next well he was only an unaccomplished Jr senator not a seasons political head? . Was it not his ';economic knowledge'; that got him elected?
It's a good thing to get many opinions, I just hope he listens more to Nobel prize winning economist Joseph Stiglitz rather than the Neoliberal Citigroup Robert Rubin.
Robert Rubin is in part responsible for supporting the policies that pushed us to the brink of a great recession. When the subprime mortgage crisis hit, instability and collapse spread across numerous industries. Rubin also pushed for more deregulatory policies that ended up shifting jobs, and entire industries, overseas.
Rubin even pushed for Clinton’s dismantling of Glass-Steagall, testifying that deregulating the banking industry would be good for capital gains, as well as Main Street. “The banking industry is fundamentally different from what it was two decades ago, let alone in 1933,'; Rubin testified before the House Committee on Banking and Financial Services in May of 1995.
“Glass-Steagall could conceivably impede safety and soundness by limiting revenue diversification,” Rubin argued.
While the industry saw much deregulation over the years preceding these events, the Gramm-Leach-Biley Act of 1999, which eliminated Glass-Steagall, extended and ratified changes that had been enacted with previous legislation. Ultimately, the repeal of the New Deal era protection allowed commercial lenders like Rubin’s Citigroup to underwrite and trade instruments like mortgage backed securities along with collateralized debt and established structured investment vehicles (SIVs), which purchased these securities. In short, as the lines were blurred among investment banks, commercial banks and insurance companies, when one industry fell, others could too.
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Joseph Stiglitz:
';Houses of cards, chickens coming home to roost - pick your cliche. The new low in the financial crisis, which has prompted comparisons with the 1929 Wall Street crash, is the fruit of a pattern of dishonesty on the part of financial institutions, and incompetence on the part of policymakers.
We had become accustomed to the hypocrisy. The banks reject any suggestion they should face regulation, rebuff any move towards anti-trust measures - yet when trouble strikes, all of a sudden they demand state intervention: they must be bailed out; they are too big, too important to be allowed to fail.';
AMY GOODMAN: What is your response to the passage of the bailout by the Senate?
JOSEPH STIGLITZ: Well, I think it remains a very bad bill. It is a disappointment, but not a surprise, that the administration came up with a bill that is again based on trickle-down economics. You throw enough money at Wall Street, and some of it will trickle down to the rest of the economy. It’s like a patient suffering from giving a massive blood transfusion while there’s internal bleeding; it doesn’t do anything about the basic source of the hemorrhaging, the foreclosure problem.
He knows that fixing the economy will be a huge problem, and that it may very well fail. That's why he's bringing in Governess Granholm from Michigan ( my home state ). She has flubbed up Michigan so bad that it may never heal, thus using her advice will give him a great scapegoat.
He's not stupid, he's covering his butt, way before it needs covering.
he never once claimed to know all the answers and anyone that thought he knew all of them is ignorant and dangerous.
but not as ignorant and dangerous as some wingnut that puts words in peoples mouths and characterizes 53% of americans as retards.
Because he knows that the proposals he made during the campaign would harm the economy and is looking for actual solutions now that he has been elected..
he is not a ecomonist he is a politician he would more than likely need advice from bankers and the like so his plans will work remember the numbers need to fit
Presidents have advisers.
Because he is a lawyer and not an economist
The problem is so immense that you need a meeting of the greatest minds to try to find an answer.
So that other people can get blamed when it doesn't work.
Because he is smarter then Bush.
b/c even jesus had 12 apostles
'The man with a plan' didn't have a plan, thats why.
I wish Gordo had done the same over here!
sensible if you ask me ,see what others think and then make his own mind up
