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Reply #39: That they were...and it did work [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
bhikkhu Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-11-10 10:32 PM
Response to Reply #35
39. That they were...and it did work
There might be cause for outrage as to why we put such a priority on the banks and did a good job there, while some other parts of the economy might have been in as great a need and been left hanging out to dry...but at least in theory it was a sound strategy. Obama's big priority was not banks but manufacturing, which had been in decline for decades; the old "we don't make anything here anymore" thing. Manufacturing is capital intensive, however, and requires a healthy banking sector to grow.

Manufacturing has been doing ok lately, the long term decline reversed, but it is all agonizingly slow and tenuous.
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