Stiglitz: Obama Has Confused Saving the Banks with Saving the Bankers. Democracy Now

[balantz]

Run time: 10:24 https://www.youtube.com/watch?v=wyMUIsOVMqQ   Posted on YouTube: February 25, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: February 25, 2009 By DU Member: balantz Views on DU: 1779

 
We get reaction to President Obama’s speech from Nobel economics laureate and former World Bank chief economist, Joseph Stiglitz. Stiglitz says the Obama administration has failed to address the structural and regulatory flaws at the heart of the financial crisis that stand in the way of economic recovery. Stiglitz also talks about why he thinks Obama’s strategy on Afghanistan is wrong and that Obama’s plan to keep a “residual force” in Iraq will be “very expensive…the result of that is the savings that they had hoped won’t materialize.” On healthcare, Stiglitz says a single payer system is “the only alternative.”

Part Two: http://www.youtube.com/watch?v=BEryiiIg-R4

Part Three: http://www.youtube.com/watch?v=y7zp3PH38k8

[leftchick]

1. he is so right

this is nothing but lipstick on a pig!

[change_notfinetuning]

2. This is what Obama should be doing and what DUers should be doing is

watching the full half hour. It should be required viewing. I may not post often, but I read DU daily. I know that DUers are good people who want what is best for the people of the United States, and future generations. I was a big Obama supporter, but speeches are not actions. With all due respect, when you are done shaking your pompoms yelling yourself hoarse in support of Obama, think about the good all of this money going to prop up the financial rascals could be doing if it weren't being squandered on the slow motion deaths of these institutions. It's time for euthanasia on Wall Street because the Geithner/Summers way is billioning and trillioning us to death. Biting the bullet the way Stiglitz says is the only solution. Every additional dollar spent in this taxpayer torture of a bailout is a dollar that won't be spent on what we all know is needed. And for what? To save the people who turned these institutions into gambling casinos? And to add insult to injury, this is our one and only chance for single payer health care, and our guy is going to bury it.

Sorry, but I'm seeing a lot of fine tuning, and not much change!

[robinlynne]

4. Did you notice the 2 trillion he said he already found in wasteful spending

he will eliminate, and the pentagon spending "We do not need to purchase cold war weapons any longer?". THAT IS ACTION!

[avaistheone1]

5. You honestly have read my mind.

I really am very upset at how the banksters are being handled with kid gloves, and have been given every dime they want, and despite claims to the contrary the banksters still have no accountability. Yes, it looks like Obama is going to take a pass on health care and hand our tax dollars over to the insurance companies to enrich themselves at our expense. No one really is excited about the plan Obama is imposing on us. It is definitely not a bottoms up approach. Its the health care industry "who knows what is best for us" making this policy.

[katty]

3. Stiglitz spot on

[florida08]

6. I do like his reasoning

on Lehman Brothers. Surgically remove the good parts..like deposits and money markets and let the gambling part go down. It's just so many that have common shares lose everything they've worked for retirement. When these institutions fail the preferred stock is saved while common shares are sacrificed. Wall Street does try to bully us as in the other day with the rant on the floor from Rick Santelli.

[ProfessorPlum]

7. K&R - watch all three parts if you have the chance