Change you can believe in

[mcurry]

Originally published at Wake Up. You can comment here or there.

It’s been a stellar week for Obama on the economic front.

Start with his decision to tap Senator Judd Gregg as his new Secretary of Commerce, a guy who voted to abolish the Commerce Department back when Clinton was President.

So, Judd Gregg will become Commerce Secretary, and a

Comments

[dirkcjelli]

I'm pretty sure 'haircuts' is being misused above.

A haircut is a teenie tiny transaction fee.

[dirkcjelli]

sorry to nitpick, though. A fine post.

[dirkcjelli]

The good news is... we get to vote for Change! again in 16 years once everyone has forgotten.

[icedrake]

Here's what I don't understand. There's been a ton of talk about buying up all the toxic assets to restart the lending industry. But that doesn't really address the question of "have we got them all." Why doesn't the government just *create* a new bank instead of effectively nationalizing all these chaotic tangles of poison, fund said bank with some indisputably clean starting capital, and then use *that* bank to lend money to the sinking institutions?

At least that way, everyone will know it's got a healthy balance sheet.