Obama is the new financial Dubya? Here is what Umair Haque at Harvard Business Publishing says: When it comes to finance at least, the parallels are way (way) too striking to ignore.
Consider:
1) Obama has discarded the advice of nearly every eminent economist in the world.
2) To go with the advice of "his" team.
3) Because access to him is apparently controlled tightly by Summers and Geithner.
4) So Obama is bubbled from the growing disbelief at his lack of economic literacy.
5) A plan that is likely to result in massive looting is blindly sailing ahead.
6) Policy is clearly biased in favour of those who can afford to buy it. Hence, banks win — again.
7) And it doesn't matter if policy works or not — so we get perverse policy after policy.
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