We were perplexed upon reading Thomas Friedman’s colum this morning in which he worries that solving the financial crisis might come to dominate Barack Obama’s first term.
I’m worried. We’ve just elected a talented young president with many good instincts about how to propel our country forward, extend health care to more people, make our tax code fairer and launch a green industrial revolution. But do you know what I fear? I fear that his whole first term could be eaten by Citigroup, A.I.G., Bank of America, Merrill Lynch, and the whole housing/subprime credit bubble we inflated these past 20 years.
We weren’t sure what to say, so fortunately Robert Teitelman at The Deal captured our thoughts exactly:
This may be mean spirited, but what planet has Thomas Friedman been visiting?.
Last weeks’ column got a similar reaction, after venture capitalists slammed his idea for dumping more money into their coffers. Friedman seems intent on shredding his reputation to bits by sounding ridiculous.