奥巴马和那难缠的经济危机
So the banks are making profits, but are they healthy? And why aren't they lending more money? The challenge for this President is to prevent waste and fraud, get the banks healthy and hold back the populist outrage that some say "is overshadowing those efforts".
"…let’s do what’s necessary in order to create jobs, and together..."
Mr. President, your challenge: To heal the banks, fix the economy, keeping it all transparent and accountable. Good luck!
“Never has so much money been pushed out in such a short period of time.” Neil Barofsky is the bailout czar, tracking the billions spent on the banks that made terrible bets.
"We are now charged with overseeing twelve separate programs involving by our calculation up to three trillion dollars."
Billions for bad assets to boost lending for student loans and cars, for small businesses and homeowners. But at the core, a belief held by two administrations, "America can't recover without healthy banks", a belief not shared by many Americans outraged by executive bonuses, lavish corporate jets and retreats and their own mounting bills.
"People are angry that even if they have consistently paid their bills on time and never missed the payment. Their TRAP-assisted banks are unilaterally raising their interest rates or slashing their credit lines."
TARP, of course, is the much-maligned Troubled Asset Relief Program, the bank rescue. But economist John Ryding says that anger against TRAP is holding back the recovery.
much-maligned: 被恶意中伤的;被诽谤的
"That whole populist issue is providing a roadblock to the plan working more effectively."
Now banks are reporting profits, sort of.
"That is the oxymoron out there. They got, they’re making the money because we gave them money. But they also want them to make money to pay us back."
"(It took) us a couple of days because I like to know what I’m talking about before I speak, all right?”
So, Mr. President, is the bank bailout working?
"I'd say it's a modest success. But it's not enough."
Kenneth Rogoff is among those economists who believe, if anything, it may take more tax dollars.
"We may end up spending more. The recession may end up lasting longer."
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