His speech on the financial crisis is here as well as other places.
I think it is terrific.
As it happened, I watched it with a former cabinet secretary. I gave a talk to a group about the financial mess today, and he was there. The speech was on TV just outside of where I spoke, so I stopped to watch, and the official stopped along with me.
I said I thought BO possibly had the stuff for restoring confidence.
The official said, "well, he certainly is smart."
I said, "smart would be a nice change."
The official laughed.
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From the speech "Number two, I said that we cannot help banks on Wall Street without helping the millions of innocent homeowners who are struggling to stay in their homes. They deserve a plan, too."
Why do we need to bail out homeowners? First, if someone has negative equity (and was close to zero from the start), why is this person a homeowner? Second, who is going to pay for this? Renters? Homeowners who were responsible and did not get in over their head?
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