The White House's success in its latest "sweeping, ambitious plan to fix the economy" depends on...

The White House's success in its latest "sweeping, ambitious plan to fix the economy" depends on how much the public actually understands of the plan, and how much more it will tolerate.
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  • j_remington
    , contributor
    Comments (1341) | Send Message
    Obama is uncertain...


    Interviewer Steve Kroft, of the ’60 minutes’ CBS news program, asked the President believed there was still systemic risk in the financial system. He asked if the system could implode if there was a big failure at American International Group, or Citigroup.


    “Yes,” the President said on the program, which aired Sunday evening.


    "Citibank?" Kroft asked.


    "I think that systemic risks are still out there. And if we did nothing you could still have some big problems," Obama said.


    "There are certain institutions that are so big that if they fail, they bring a lot of other financial institutions down with them. And if all those financial institutions fail all at the same time, then you could see an even more destructive recession and potentially depression," he said. "I'm optimistic about that not happening."

    23 Mar 2009, 11:21 AM Reply Like
  • coloneldebugger
    , contributor
    Comments (923) | Send Message
    From what I've seen so far the only people giving positive reviews to this latest round of fleecing the tax payers are the people buying today on Wall Street.
    23 Mar 2009, 11:28 AM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
    We are getting shell shocked...every weed/day there is another baiout/deal/crisis/inv... bla bla...and we just sit here and watch it....trillions of dollars in debt..that no one will buy...and someone will have to pay...will it be inflation or default..that is the question now...we as individuals can't get in the Bank deals as we are not "connected" ...we have to buy gold...but I see the "connected" ones putting up a fight over gold..they want all the wealth..not just some of it..IMHO
    23 Mar 2009, 11:29 AM Reply Like
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