Tuesday, April 07, 2009

Let the banks and brokers go down

I'm getting nervous about Obama's economic team and their plan.

What most concerns me is that they seem focused on repair and restoration rather than on replacement and invention. I'm looking for generation, not regeneration and most of Obama's team seem to come with minds shaped by long submersion in the troubled waters of our recent bank and investment cultures. His guys apparently are not capable of blowing the doors off what is and coming up with something entirely new. Or maybe they know what they are doing but are so deeply vested in the dead and dieing financial institutions that they are compelled by self interest to try to resuscitate them.

I don't own stock and I don't give a damn if the failed banks go down.

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