Paul Krugman has noticed that it’s amateur hour or worse at the White House. It says something that even he is worried now, even though he is careful to conceal that part by attributing his worries to “people that he talks to”. NYT:

there’s a growing sense of frustration, even panic, over Mr. Obama’s failure to match his words with deeds. The reality is that when it comes to dealing with the banks, the Obama administration is dithering. Policy is stuck in a holding pattern. Here’s how the pattern works: first, administration officials, usually speaking off the record, float a plan for rescuing the banks in the press. This trial balloon is quickly shot down by informed commentators. Then, a few weeks later, the administration floats a new plan. This plan is, however, just a thinly disguised version of the previous plan, a fact quickly realized by all concerned. And the cycle starts again.

Not that he’d agree with our plan to fix things, but some plan other than the ad hoc and calamitous serial near-nationalizations would be nice, wouldn’t it?

This entry was posted on Friday, March 6th, 2009 at 5:47 pm and is filed under business, Democrats, MSM. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.