James Wood

Paulson's Plan Fails to Understand the Problem; Madoff Is a Perfect Example

It was not my intent to say that Obama had a good plan or that I am defending Obama. It was my intent to say that much of the money that Paulson is spending will be wasted. It was also my intent to say that Obama seems to offer the prospect of not following in Paulson's in tracks, which I view to be a good thing. It is my belief that Obama is much more compentent than most, but he has not really presented his plans. While you are correct to say that he was "in the room" when TARP was done, I think he is only now thinking seriously about what he plans to do. I expect we will see some pretty well thought out plans starting Jan 20th. But as I suggest in the article, I wonder if anyone has all the answers at this moment in time. Thanks for your comments. Jim Wood


On Dec 15 08:09 AM geoc wrote:

> Hello Mr Wood,
>
> I disagree with you on two points
>
> Obama was for this plan. He was in the room when it was presented.
>
> He's stated what he wants is increase Govt spending on roads (but
> we all know that will drive up taxes).
>
> Question:
> You mention needy workers building roads - how do you know the workers
> where the roads are going to be built are needy? Are we going to
> have some poverty test before deciding to build a road in an area,
> or are we going to ship poor workers to where roads are best built?
>
>
> Sounds like a glorious start... a "Great Leap Forward" if you will
> :)
>