Jobs/Stocks/Economy--All Down; Is Obama a Socialist?
The employment rate is 8.1 %; the stock market went up, then down; and AIG, GM and the banks are all demanding more money. Bob applauds Obama's mortgage moves, but thinks his bank plans have been a failure so far. Tony says it's too early to blame him but not too early to worry about failure. Arianna says the banking crisis is his Achilles heel; all think that Geithner will likely be the scapegoat for the economy he can't escape. Summers and Geithner: are they the government's representatives to the banking industry - or the banking industry's representative to the government? Matt wonders why the vetting process has been so ridiculous in the face of such crises. And is Obama a socialist? What's that mean, anyway?