Sunday, March 08, 2009

Schumer Explains "Dithering" on Banks

So-called experts and pundits like to say that Obama is dithering on the banks. The experts and pundits are looking for someone to blame and are plunging the knife in the back of Timothy Geithner, who also has the problem of being understaffed. Geithner has had to laser on banks. Meanwhile, undersecretaries keep dropping out of the nomination process.
On Meet the Press, Chuck Schumer explains "dithering" and how expensive it's going to be to get the banks in order. Banks are puffed up with all of our bad debt. I've posted this video before but it's a good explainer:

It's also going to take time to bring back order to the banks. Too bad if the stock market reacts daily. That's just the way it is. Obama is not Wall Street's underling.