Obama: Bailout less costly than S&L Debacle (!?*)

[oddlots]

Gave up on Obama as soon as his economic advisors announced. Still, this is such utter BS I am aghast...

http://www.nakedcapitalism.com/2010/...sl-crisis.html

"On the Jon Stewart Show (starting roughly at the 1:10 mark on this segment) Obama claims the cost of this crisis will be less than 1% of GDP, versus 2.5% for the savings and loan crisis..."

I remember way back in ~ 2003 having a discussion with a quite successful and senior bond salesman about the role of confidence in markets. I swear the man actually believed that confidence was more important than it's source. In other words, if the PR job could be perfected then all would be well. I found his attitude shocking in its one-dimensionality. Same sick feeling here.

[don]

Re: Obama: Bailout less costly than S&L Debacle (!?*)

You're suggesting we should be weighing the lies?

You have better things to do ....

latest wave of bullshit and lies caught on camera

[GRG55]

Re: Obama: Bailout less costly than S&L Debacle (!?*)

Gave up on Obama as soon as his economic advisors announced. Still, this is such utter BS I am aghast...

This seems to be the quote that's getting much of the press:

Barack Obama’s Daily Show Interview: “Larry Summers Did a Heckuva Job” (Yikes!)

October 28, 2010, 8:20 AM

...Stewart’s most combative query concerned National Economic Council director Larry Summers—in particular, Obama’s hiring thereof. “We can’t expect different results with the same people,” Stewart said, referring to Summers’s previous stint as treasury secretary under Bill Clinton. He continued, “Larry Summers ... that seems like the exact same person.” Obama, inadvertently quoting his imminently quotable predecessor, replied, “Larry Summers did a heckuva job.” Stewart, somewhat shocked, advised him, “You don’t wanna use that phrase, dude...”

[jpatter666]

Re: Obama: Bailout less costly than S&L Debacle (!?*)

This seems to be the quote that's getting much of the press:

Barack Obama’s Daily Show Interview: “Larry Summers Did a Heckuva Job” (Yikes!)

October 28, 2010, 8:20 AM

...Stewart’s most combative query concerned National Economic Council director Larry Summers—in particular, Obama’s hiring thereof. “We can’t expect different results with the same people,” Stewart said, referring to Summers’s previous stint as treasury secretary under Bill Clinton. He continued, “Larry Summers ... that seems like the exact same person.” Obama, inadvertently quoting his imminently quotable predecessor, replied, “Larry Summers did a heckuva job.” Stewart, somewhat shocked, advised him, “You don’t wanna use that phrase, dude...”

Obama tried to hedge it immediately "pun intended" but the damage was done.

And we all know that the comment *fit*. Heckuva job, Larry, heckuva job.....

[tsetsefly]

Re: Obama: Bailout less costly than S&L Debacle (!?*)

That interview was great, I cant wait till whoever his opponent is in 2012 uses that clip against him. I wonder if anyone still believes in hope and change or Obama's "transparency". Most of his policies have just been a continuation of Bush, even DADT!