David’s Reviews > Confidence Men: Wall Street, Washington, and the Education of a President > Status Update

Maybe I'm missing something here. Obama's "deal" with McConnell was to exchange extending the Bush tax cuts for an extension of unemployment benefits and a payroll tax cut. Seems like Obama got suckered -- or can someone explain to me how this was a good deal?

"Maybe we did this to ourselves, sure, but we're just responding to the way things are. We've gone 'long' on developing markets around the world, and gone 'short' on America, where the whole game is using debt to give people what they haven't been able to earn, and may never earn, and derivatives is a key way we make that possible." (Wall Street lobbyist)

What a racket: the Fed gives free money to banks, which lend the money back to the government at 3% interest by buying Treasury bonds. Risk-free profit at zero cost!

Obama appears not to take women working with him seriously. Too bad, because they seem to be some of the most competent and honorable people in the executive branch.

"...having some people paid tens of millions for activities of no social or really economic value -- or, as the crash shows, negative value -- just tears a society apart, at all levels, top to bottom. Well, maybe not top." Paul Volcker, former Fed chairman

Maybe Geithner is even worse than Summers.

With all the Wall Street insiders in the Obama administration, there was no way real reform or regulation would be imposed on the financial industry. The free market would not be allowed to make banks suffer consequences of recklessness. No, the government bail almost everyone out.

I'm definitely getting the feeling that Larry Summers was a BAD choice for the Obama administration.

Interesting passage on the role of women in the crisis -- regulators and a congresswoman -- who were all RIGHT.

Just as I suspected: Obama lacked experience to be president. Maybe he'll have wised up enough for his second term.