Sunday, February 01, 2009

The stimulus bill requires President Obama's intervention

MOUNTING THE bully pulpit last week, President Obama gave Wall Street a lecture about the $18.4 billion in bonuses that the securities industry awarded itself in 2008. This was "outrageous," Mr. Obama said. In these tough times, he declared, financiers must "show some restraint and show some discipline and show some sense of responsibility." Well said. Now the president should make the same demand on those in Congress, including leaders of his own party, who are cluttering his fiscal stimulus plan with extraneous and counterproductive provisions.

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