Tuesday, February 3, 2009

Why Davos Man is waiting for Obama to save him

In an op-ed published in the Financial Times on February 3, 2009, Martin Wolf referred to the actions of the Obama administration as “desperately discouraging.”

Wolf called the Obama fiscal stimulus plan “too small, too wasteful and too ill-focused.” He accused the administration of failing to recapitalize the banks and resorting to protectionism on the trade front.

“We are living on the cusp of history,” said Wolf. “The priority is to reverse the downward spiral of despair through overwhelming and concerted action. That will only occur if the US now gives the leadership we need.”

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