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A New Week, A New Economic Plan to Sell

By Ben Pershing
It's the start of a new week, and that means it's time for the Obama administration to unveil yet another sweeping, ambitious plan to fix the economy. In this case, it's the White House's blueprint for creating a public-private partnership to buy troubled assets from banks, thereby clearing their books and -- hopefully -- setting them and the larger financial system on the path back to recovery.

Tim Geithner, who still has the "confidence" of President Obama, lays out the details of the plan in an op-ed and an interview in this morning's Wall Street Journal. He will explain more this morning at a pen-and-pad press briefing, a format that often is used when the briefer is worried about being caught saying something stupid or controversial on camera.(A free piece of semantic advice: Be sure to call them "troubled" rather than "toxic" assets. Who wants to buy something that's toxic? Calling them troubled makes them sound salvageable, like the patients on a rehab reality show or a teenager in an after-school special.)

How the Obama administration fares during this continued crisis seems dependent on two factors -- how much the public actually understands about the White House's latest plans, and how much more the public will tolerate. How will average voters decide what they think of the latest plan, which is exceedingly complicated and involves both significant public risk and the chance of lucrative private gain? Paul Krugman, for his part, is filled with "despair" at the idea. Fellow economist Brad DeLong is much more positive. The former has a much larger readership than the latter, but the jury is still out on which narrative will take hold with the public.

Continue reading at Political Browser »

Posted at 8:25 AM ET on Mar 23, 2009  | Category:  The Rundown
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barbiek1:

Here's another issue: DO WE REALLY NEED TO WASTE OVER $2 BILLION PER YEAR TO RUN WHITE HOUSE?

http://whitehousetransitionproject.org/resources/briefing/Patterson-Cost%20of%20WH.pdf

Posted by: JakeD | March 24, 2009 12:37 PM

If the "plan each week plan" weren't so serious for all of us. it would be funny.

I understand that Obama doesn't want to tax AIG Bonuses - guess his handouts are burning in his pocket.
If the government cant run itself in a sound financial manner - what business does it have buying a financial instituion - ?
I am missing why (even though I know they weren't supposed to get caught)we just didnt say no bonuses or no money....
silly us.
WHY IS IT BOTHERING NO OTHER AMERICANS THAT THIS 1100 PAGE BILL WAS PURPOSELY GIVEN TO CONGRESS HOURS BEFORE THE VOTE SO THEY COULDN'T READ IT.

Good news - his local campaign folks are hitting me again to give more so we can help him move more quickly in his endeavors - ???????????

Posted by: barbiek1 | March 23, 2009 10:39 AM

EXTRAJUDICIAL TARGETING AND PUNISHMENT OF AMERICAN BREADWINNERS AND THEIR FAMILIES:

THE UNTOLD STORY BEHIND THE ECONOMIC MELTDOWN.

***

TEAM OBAMA: WHAT DO YOUR BUSH HOLDOVERS KNOW ABOUT THESE ONGOING SECURITY-INTEL-REVENUE 'MULTI-AGENCY COORDINATED ACTIONS'...

* Silent, covert microwave radiation weapons (D.E.W.) assaults on innocent but "targeted" U.S. citizens;

* Terroristic vigilante community gang stalking, surreptitious home entry, police-tolerated vandalism;

* Secret federal "programs of personal financial destruction" that have used the IRS as an ideological tool of "social cleansing."


http://www.nowpublic.com/world/gestapo-usa-govt-funded-vigilante-network-terrorizes-america
http://www.nowpublic.com/world/domestic-torture-radiation-weaponry-americas-horrific-shame

OR (if links are corrupted / disabled):

http://www.NowPublic.com/scrivener

Posted by: scrivener50 | March 23, 2009 10:16 AM

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