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July 11, 2011
He rescued us?
On Sunday, on Meet the Press, Treasury Secretary Geithner said "The Amercian economy was falling off the cliff in the Fall of 08 and the first months of [President Obama's] Administration and he put in place the most creative, the most forceful set of economic measures we have ever done as country, and because of that we prevented a second Great Depression ...." If you haven't seen this performance, you should -- the forcefulness and conviction with which the Secretary delivered these lines is impressive. There's something I don't understand. Why didn't David Gregory, the host of MTP, laugh in Geithner's face? And then ask, in a voice exuding incredulity, "Are you kidding?" Personally I believe that the notion that we were headed for a second Great Depression (hereafter SGD) in 2008-09 preposterous. But let's indulge Secretary Geithner for a moment. Let's assume that our economy was falling off a cliff. I can understand an argument (with which I profoundly and intensely disagree) that...(Read Full Post)