MICHAEL LEWIS: OBAMA CREATING FALSE ECONOMIC CONFIDENCE
For months as I listened to all the" conversation" about the"green shoots" and watched the stock market going up and up, I had a funny feeling that something is not on the up and up but I dared not write a word. But last night and discovered I was not alone. I tuned in to the last minutes of the Charlie Rose show and heard Michael Lewis, the man Rose said was described to him"as best writer about economics today," express similar sentiments:
CHARLIE ROSE: And you think maybe more bad news is to come.comments powered by Disqus
MICHAEL LEWIS: I do think that. I think that the scope of the losses has not been completely acknowledged by the government. I think that the approach that they’ve taken has been to sort of -- it has been -- you know, it works, up to a point. The Obama administration especially has been very good at creating false confidence, they have been very good at talking up the financial institutions, and it is true that.
CHARLIE ROSE: But it’s not just the Obama administration, I mean, it’s outside the Obama administration. I mean, I saw a ticker go today,"Bank CEOs suggest recovery by end of year."
MICHAEL LEWIS: Right.
- Nelson Mandela Dead: Icon of Anti-Apartheid Movement Dies at 95
- George H.W. Bush Given Lyndon B. Johnson Foundation Award
- Bruce Springsteen's 'Born To Run' manuscript could fetch $100,000 at NY auction
- Hospital Donates Records of Jacqueline Kennedy Onassis to JFK Library
- Australia’s Eureka Flag Finds a New Patch