Do you change your mind easily after you have made a decision?

[kentuck]

Some folks, once they have made a decision, will never change it, no matter how much the circumstances change. George W Bush comes to mind. Nobody likes to admit they were wrong.

Barack Obama made the decision to rescue the banks at any and all costs. Otherwise, our entire economic system would collapse. The capitalists of the world must love him immensely?

His decision to hire the former head of the New York Federal Reserve Bank, Timothy Geithner, is looking more and more like a disastrous mistake. He and the banks are playing the American people for every penny they can get. And Larry Summers was making a personal fortune defending and promoting the big banks as late as last year. He has taken millions and millions of their dollars.

But, they are making the decisions about what role banks will play in the recovery of our economy. Robert Reich and others have pointed out the short-sightedness of their policies. So far, they have not lent money to jumpstart our economy. They have continued to pay off huge bonuses to their people and to buy up other banks with their collateral, even as our economy sinks deeper and deeper into recession and millions lose their jobs. The banks don't give a big shit.

How long will Obama stick with this decision? Three months before the next election, when the economy is still in the tank and the banks are flourishing, will he then change the captains on the boat? Tell me what is democratic or socialistic about this policy? The big banks take the gold mine and we get the shaft.

[slackmaster]

1. Sure, I do that all the time.

Well, not really.

[bluebellbaby]

2. Yes...if I've found my original position is wrong!

It takes a "big person" to admit..."I made a mistake"...

I don't understand how Geitner's appointment is wrong though...???

If President Obama had "nationalized" the banks...we really would be in a worse "economic crisis"...nobody would have any faith in our system ever again...

And with all the money being given to the banks and then they pay out bonuses...this is crazy...I agree...

Making money available for loans won't change the fundamental problems with our current society and economy...

We need industries that make things again...we used to make everything ourselves...from toasters to furniture to pillows...


We don't make anything anymore...so giving loans just so that Americans can buy more products from foreign nations won't help us...

It will only continue the downward spiral of our system...or temporarily put off that "day of reckoning".

We need to get back to work...making stuff...

The only hope I see so far are industries in new "green products"...we could start there...

[KharmaTrain]

3. If You Don't, Your Business Goes Bankrupt

There's one thing about being indecisive...not able to make a decission, but that's OT...

Of those who are in leadership, the "resolute" leaders always are the worst. Once they set the course, it's set...and if that means into the rocks, so be it. No one can tell this leader and a good chance he'll increase the speed just to "show you". Or those that have to copy others and always make the same mistakes...usually worse. "If it's good for AIG..."...

Much of making choices is based on the situation you face. You always keep options open and ready to adjust where needed...but always to have a plan...an idea of where you'll be in 3 or 6 or 12 months. I see President Obama following a similar tact...one that may not please everyone, but a plan and one that he can and will modify as the situation warrants.

This administration inherited an economy in freefall...the first priority was to stop the implosion and a Geitner or someone with knowledge of the system made better sense than bringing in economists and others not tainted by Wall Street...but then look at the learning curve we'd have to deal with...and I'm not sure we had the time for them to get up to speed. Even Krugman admits it's easier to give advice and criticism than it is to try to move a very large beauracracy. You modify behavior rather than radically alter it.

Time will tell where we go now. With the government holding large stakes in banks and corporations, this does mean we are now "stockholders"...and as we saw at GM, I see President Obama willing to change leaership when it means protecting his/our investment. I see this happening over time in many other operations we now have a large say in...but done not to create a further risk to the investment...call it a soft landing.

The changers will and should be the stockholders...either through voting in new leadership or in law suits. These are the people who have suffered from mismanagement and have the most to lose or gain. We're already seeing some of this occuring at BOA. Others will face criminal actions...like the growing scandals at AIG and Merril Lynch that could take down even more. Time is the avenger here as this economic mess took 30 years to build, it's not gonna be straightened out with the wave of an executive order or radical surgery.

[Ian David]

4. No, I don't.

Oh, wait.

Yes, I do.

[ecstatic]

5. I think Dems disagree most widely on fiscal issues

So your view of failure might be what another dem views as success.

[kentuck]

7. How should we measure this success?

By how well the banks are doing or by how many more people are without jobs and are desperate?

[PufPuf23]

6. When I realize I am wrong yes.

Unfortunately, I do think Geithner and Summers are wrong choices and wrong strategy.

I did not like the appointment of Rahm and I was wrong.

I did not like the appointment of Clinton and I was wrong.

I did not like the appointment of Vilsack and am uncertain. DU can be tone deaf at times. Not once have I heard mention that the Secretary of Agriculture is also head of the US Forest Service, 2nd in acreage of Federal land management to the Department of the Interior but Federal land but is more ripe for privatization (because of water, location, etc.) should that be viewed a solution to the Federal budget mess.

I did not like the retention of Gates but understand why to a degree.

I wanted Obama to be POTUS and in fact he is the only political candidate I have donated cash and I am glad he is POTUS and cannot think of anyone who could be doing any better.

These are difficult times.

I have thought of making a OP along the lines of Geithner/Palin/Summers/Wolves and the ecological fallacy of trickle down economics but haven't.

I think there are many plates in the fire and Obama inherited the bailout from GWB and is for the time staying the course to buy time.

[lumberjack_jeff]

8. I'm consistent. I believe the same thing today that I'll believe on Thursday.

What happens tomorrow does not matter.

ht to Steven Colbert