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Obama hopes dim with results of economic missteps – MarketWatch

…[Obama’s] failure to hold financial kingpins accountable for the crisis that spawned the Great Recession was inexcusable. And this failure was compounded by not mounting any significant financial reform but instead passing a Frankenstein bill that — besides not addressing many of the real problems — was unwieldy, unnecessarily complex, and unworkable.

It was perhaps optimistic to expect anything else from a president who doesn’t understand economics and apparently let his political advisers, who also don’t seem to get it, have the last word on economic policy.

It didn’t help that his economic team was led by proven failures like his chief economic adviser, Larry Summers, the Clinton administration Treasury secretary who signed off on deregulation, and his Treasury secretary, Timothy Geithner, who as third-place choice to head the New York Federal Reserve failed to see or head off the brewing financial crisis.

via Obama hopes dim with results of economic missteps – Darrell Delamaide’s Political Capital – MarketWatch.

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