The stimulus package just passed was better than nothing, clearly the right type of thing for our country to be doing at this juncture (though its spending provisions may well be far too small in scope to actually get the job done).
Nevertheless, much as I hate to say it, it's President Obama who's pulling in the wrong direction in the battle to restart the heart of the American banking industry and by extension that of the entire world economy.
Things have gotten so bad that, unbelievable as it sounds, even die-hard Republicans in Congress like Lindsey Graham and Peter King now want to do the right thing and will consider nationalizing U.S. banks ... but not Obama!
That's right. Read all about it right here.
When far-right conservatives are to the left of tippity-top Democrats like Obama and Schumer on the most crucial economic question facing the nation in 80 years, calling as they are for sensible democratic socialist economic solutions to pull our bacon from the fire in the current financial emergency in which we find ourselves ... you KNOW something really is WAY, WAY out of whack.
The Swedish Solution is in fact just what we need to turn this ship around. It worked for the Swedes in the 1990's, and it's probably the best shot we Americans and the rest of the world have at this point in time.
But first we'll need to convince our new Democratic president and old donkeys in Congress to stop beating around the Bush, follow Graham's and King's advice, bite the nationalization bullet, and finally get this ball in the hoop before it's too late:
President Barack Obama
Email form: http://www.whitehouse.gov/contact/
Pass it on.
The Democratic Activist