I disagree with this premise

[6thGen]

esp. that populist anger leads to solid legislation, but it is a well written article on the virtues of populist anger that you don't see too often. It is interesting to see Salon, Rolling Stone, Reich and Krugman all turning on the #2 face in this administration. I don't think Obama will have a choice but to run Geithner assuming he took notes from Bush on Rumsfeld. History happens much faster w/r/t banking and people's retirement funds than in a foreign theatre that you don't see every day, so if he's going to do so, he needs to do it soon. Realistically, I think Obama doubles down and finally loads Treasury with staff, many of whom the populists will hate. Here's the article I'm referencing.

The virtues of public anger and the need for more - Glenn Greenwald - Salon.com

 

[TooFarTampa]

The populist anger seems to be the story of the week. :roll: My Newsweek just arrived and that's the cover story.

While I was on the dreadmill (sorry treadmill) an hour ago I noticed that many of the Congressional questions to Geithner and Bernanke, from both sides of the fence, seemed purely reflective of populist anger. And those Congresspeople sounded like complete idiots. All they were doing was ranting instead of asking nuanced questions. In general I was impressed with what I was hearing from Bernanke and Geithner. They were doing a good job explaining the complexities. But if our elected officials don't want to listen, will the people?

I like the plodding, pragmatic approach myself. But I wonder if the "populist anger" will allow it.

 

[6thGen]

many of the Congressional questions to Geithner and Bernanke, from both sides of the fence, seemed purely reflective of populist anger. And those Congresspeople sounded like complete idiots. All they were doing was ranting instead of asking nuanced questions. In general I was impressed with what I was hearing from Bernanke and Geithner. They were doing a good job explaining the complexities.

That's one of my main issues with the premise in general, and what I was referencing in my first sentence. The interrogated questioned can talk circles around a grandstanding Congress, but Congress is pressured to *DO SOMETHING*, which 99.9% of the time is short-sighted and self-defeating.

 

[GoodWitch58]

I have not had time to see/hear any of the exchange today; but, I was thinking yesterday, that it we might need to give them more time to work out the plan. It is a complicated issue; and apparently what they announced yesterday made some sense.

Maybe we are being too impatient?

The situation has been a long time coming--it probably needs a nuanced solution if it is going to work for the long term. My take on Geithner is that he is very smart and probably can come up with the solution; but, he does not work fast (who could with this problem?), and he is not the best person for "sound bites".

It would be a real shame if we threw out the guy who can come up with the answers, just because he didn't work fast enough for the talking heads...IMO.

 

[scooterbug44]

I think populist anger can be a good thing in cutting through lobbyists and special interests and giving politicians a catalyst, but the recent knee jerk responses certainly aren't beneficial or well thought out.

 

[GoodWitch58]

I think populist anger can be a good thing in cutting through lobbyists and special interests and giving politicians a catalyst, but the recent knee jerk responses certainly aren't beneficial or well thought out.

I am feeling some anger toward the members of the Congress--they are elected to know the issues, think through all aspects in an intelligent way, and then make a decision based on what is best for the country. Lately, it seems they are all competing for the prize for the most outlandish remark. The 90% tax is ridiculous--it probably is not constititional and even if it is, it sets a really bad precedent and doesn't really solve the foundation problem.

I'm feeling we should replace all of them next election!

 

[6thGen]

I have not had time to see/hear any of the exchange today; but, I was thinking yesterday, that it we might need to give them more time to work out the plan. It is a complicated issue; and apparently what they announced yesterday made some sense.

Maybe we are being too impatient?

The situation has been a long time coming--it probably needs a nuanced solution if it is going to work for the long term. My take on Geithner is that he is very smart and probably can come up with the solution; but, he does not work fast (who could with this problem?), and he is not the best person for "sound bites".

It would be a real shame if we threw out the guy who can come up with the answers, just because he didn't work fast enough for the talking heads...IMO.

It's not the timing everyone is upset about.

 

[scooterbug44]

I am blaming the media for a lot of it - between the constant need to sensationalize, the 24 hours to fill, and "sound bite fever" it is very difficult to have an actual discussion and focus on the business at hand.

 

[Geo]

Generally I believe technology and media can be a good thing. However, I believe our 24 hour news cycle is our worst enemy during these tough times.

I believe it is over the top that folks are calling for Geithner's head and the other knee jerk reactions we are seeing (e.g. 90% tax vote). Having a public speaking background I cannot help but think that Geithner's greatest offense so far is his on camera persona. He literally looks like a deer in headlights and doesn't exude confidence or charisma and this is being confused for a lack of knowledge and competence.

Obama has been in office for less than 4 months. Sure, there have been some missteps but realistically, what can we expect in terms of quantifiable results at this point?

 

[GoodWitch58]

It's not the timing everyone is upset about.

I know that. I posted the Rolling Stone article and believe me, I agree with everything Matt wrote. But, will it not take time to get this worked out?

Anger is good and I am glad the public is finally having a say, but the anger needs to be channeled in a constructive way IMO.