A family medical crisis that keeps you from even reading the newspapers not only interrupts blog writing. It also gives you a distance from breaking events that provides perspective on what’s important and what’s not. For example, the obsession with the Red Sox collapse and the details of Theo’s new contract with the Chicago Cubs matter not a whit. Nor even does whether Mitt Romney invaded Rick Perry’s space by putting his hand on Perry’s shoulder in a face-down in the last GOP debate.
There has been some talk (including from the highly respected Boston Municipal Research Bureau’s Sam Tyler) that the protesters should help defray the costs of police protection. But why should they do so any more than the Tea Partiers, SEIU, or fans gathering for local sports heroes victory parades ?
We need a healthy banking system, probably one more like that envisioned by former Fed Chairman Paul Volcker, the one that existed prior to the Clinton Administration’s signing of legislation ending the Glass-Steagall law and effectively deregulating banks. But, if you have any doubt about how Wall Street controls Washington (especially under Treasury Secretary Tim Geithner), check out Ron Suskind’s new book Confidence Men.
Suskind details the early years of the Obama Administration and how the President , who thrilled us as a candidate and may still be preferable to any of his opponents, has been an ineffective leader, even an ineffective manager. In the quiet of the Oval Office, what does the President – in the wake of his squandering earlier opportunities to do systemic financial sector reform – really feel about Occupy Boston, Occupy Wall Street and other protests?
We know Obama’s campaign will try to turn the protests to a campaign advantage. But the solutions to the problems lie in going after both Washington and Wall Street. And fixing things will require more than clever ads and bumper sticker slogans.
Please let me know your thoughts in the comments section below.