Hi. I'm a political hound and get really worked up on policy decisions for our country. I try to read as much as I can from news sources and blogs. The one area that I just have the damndest time comprehending is the economy. I guess I'm a little like John McCain and simply don't understand it.
I hope that some of you experts here can give me, in layman's terms please, some direction on what kind steps should be taken( progressive? I don't know and don't care as long as it works) legislatively to improve our economic position.
I've been listening to Ed over the last several weeks pounding on the Administration for not getting credit freed up to small businesses. He seems to make alot of sense to me. Much of his argument is that the Administration gave away 'gazillions' of dollars to big banks with no strings AND they are not lending that money out. He goes on to suggest that the money should really be going to small Community Banks that would get the money into the hands of small business entrepeneurs.
Is there anything wrong with that argument?
He's seems to be taking it further this week by pushing for the removal of Treasury Sec Geitner. Based on the commentary, I think that he believes that Geitner is too wedded to wall street at the expense of main street. That may seem like a cliche, but if Geitner cares more about big bankers on wall street than he does about small business, then I think Ed's right, and he needs to go and be replaced with someone that has a better understanding of macroeconomics.
Wrapping this up I think we need to push hard for this so-called left-over tarp money of 200 billion to go to a jobs program. I'm not sure that what Ed has been advocating, money to Community Banks, would do it. I'd like to see a dedicated infrastructure program using the 200 billion.
Thanks for any comments.