Hillary Clinton calls in the Plunge Protection Team
The PPT is popular these days. When asked what she would do to help the economy at Monday's debate, the presumptive democratic presidential nomineee, Hillary Clinton, urged President Bush to convene a meeting of the Plunge Protection Team:
I understand that that's a real risk. So I was hoping to be able to do it through spending, but the crisis has gotten too deep, and what happened in the markets globally today is a huge wakeup call.
The president should convene the working group on financial markets. He should ask the secretary of treasury to do this immediately. I know that there's been talking going on, but the president's proposed stimulus package is not adequate. It is too little too late and it doesn't give enough money to the people who are hardest hit by the increased costs in energy and everything else.
I don't know about you, but it makes me worried to see a potential president so eager to use the PPT before she's even in office. I'm guessing this blog will get a lot of use in the coming years.
