June 18, 2009
Obama's No FDR
Needless to say, there have been many news articles on the Obama Financial Plan, with various assessments of its merits. I commend to readers Joe Nocera's article on the front page of today's New York Times, because he says what I would say if I could write like a journalist:
[T]he Obama plan is little more than an attempt to stick some new regulatory fingers into a very leaky financial dam rather than rebuild the dam itself. Without question, the latter would be more difficult, more contentious and probably more expensive. But it would also have more lasting value.
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