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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (68842)	1/26/2010 8:31:11 PM
From: tejek	Read Replies (1) \| Respond to of 149317

Here is what Stiglitz is saying. We are in a very serious recession. The fed could have sanctioned/ordered banks to refinance mortgages and help with payments and funneled part of the 14 trillion they gave to the banks through the middle class. That's not a power the fed has. Emergency powers would have to have been mandated. It would never have happened....the screaming would be heard from coast to coast. When you're an economist, its easy to say what you think will cure a problem but oftentimes their suggestions are not practical and/or politically acceptable.