Are Obama's economic policies actually working? Eliot Spitzer says No!
Spitzer is taking aim at the [Obama} administration's approach, accusing it of shying away from the kind of comprehensive reform that the financial system needs. The Obama administration is not so different from the Bush administration, at least so far as their approach to the banking crisis goes, he claimed:
"The fundamental error of this administration is that it is continuity. They have embraced the Bush Administration view that if you solve the problem of big banks everything else flows from that. They are wrong. Too big to fail is too big. They don't get it. The only two people I know who don't appreciate that are Tim Geithner and Larry Summers. Paul Volcker, Alan Greenspan, Henry Kaufman, Mervyn King -- every major academic has said, We must get rid of too big to fail."
Watch Spitzer make his case against Obama's effectiveness as manager of the financial crisis below:
Eliot Spitzer arguing against Obamanomics from Intelligence Squared US on Vimeo.
