Sunday, November 13, 2011

Obamanomics: its intellectual foundations explained

Then: Joe Biden explains (via Instapundit) how he and Barack Obama developed the economic plan for their administration:
I literally picked up the phone and called Jon Corzine and said 'Jon, what do you think we should do?' The reason why we called Jon is because we knew he knew about world markets, about how to respond. . . . We trusted his judgment.

Now: Politico reports on the bankruptcy of Jon Corzine's firm, MF Global:

The brokerage firm run by former New Jersey governor and senator Jon S. Corzine is being investigated by federal regulators after the discovery that hundreds of millions of dollars in customer money has gone missing, according to reports.

A federal official said on Tuesday that an MF Global executive had admitted that the firm used clients’ money as troubles mounted over bad bets on European sovereign debt, according to the AP.

Taken all together, it is not surprising that America's finances resemble MF Global's.

1 comment:

The Kid said...

Would you like to get more visitors from Washington DC?

Submit your blog in zeole.com/washington_dc . This is a one time submission. This would automatically submit a preview of your future blog posts in DC, with a link back to your blog.

Enjoy more traffic from DC :-)

Clicky Web Analytics