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View Diary: Geithner and his pseudo liberal critics (231 comments)

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  •  There are of course rather poor (1+ / 0-)
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    BroadwayBaby1

    critiques of Geithner out there.  From all directions.  The title of your Diary however has the unfortunate implication that being critical of Geithner earns one the label of 'pseudo liberal'.  I suppose that this is a label I will now proudly wear from this point forward.

    •  not at all (0+ / 0-)

      It's a very specific  type of criticism that purports to be "from the left" but incorporates right wing economics/ideology.  If you are going to critique e.g. the lending of TARP money at "below-market" rates during a panic when no loans were available, you should hang up your Liberal/Left badge and openly embrace the efficient market hypothesis of the right.

      Similarly, if you want to summarize Geithner's term without even mentioning the auto-rescue, you are joining right wingers in their theory that government industrial policy can't work - that only private capital markets make a difference.

      One criticism I have of Treasury under Geithner is that they should have pushed to make the Fed keep its short term paper facility open. There is no need to let private bankers keep extracting fees from the real economy for what is essentially a mechanical service the government could provide while generating income for public expenses. That is  criticism from the point of view that the goal of the economy is general welfare, not private accumulation.

      self-appointed intellectual cop

      by citizen k on Mon Feb 04, 2013 at 08:06:15 AM PST

      [ Parent ]

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