Scathing Editorial in the NYT Critiques Obama's Economic Team
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The New York Times editorial board, which vigorously endorsed Barack Obama for president, has a fairly scathing editorial today about the President-elect's economic team:
Both men, however, have played central roles in policies that helped provoke today's financial crisis. Mr. Geithner, currently the president of the Federal Reserve Bank in New York, also has helped shape the Bush administration's erratic and often inscrutable responses to the current financial meltdown, up to and including this past weekend's multibillion-dollar bailout of Citigroup.
Given that history, the question that most needs answering is not whether Mr. Geithner and Mr. Summers are men of talent - obviously they are - but whether they have learned from their mistakes, and if so, what.
We are not asking for moral mea culpas. But unless they recognize their past mistakes, there is little hope that they can provide the sound judgment and leadership that the country needs to dig out of this desperate mess.
Sound criticism, if you ask me. But I wonder -- will progressives now start claiming the New York Times "hates" Obama? Or can we actually consider the merits of this argument, and consider how to organize pressure around the reality it elucidates?