For general discussion and debate. Possible talking point: Is the Obama team hoping the financial crisis deepens?
As my colleague Seton Motley pointed out this morning, Obama's Chief of Staff has made statements suggesting that the new administration is looking to take advantage of this crisis by offering policies that Americans wouldn't approve of if things were better. Is Obama therefore doing a Roosevelt? For some background:
After the [1932] election, Roosevelt refused Hoover's requests for a meeting to come up with a joint program to stop the downward spiral and calm investors, claiming it would tie his hands. The economy spiralled downward until the banking system began a complete nationwide shutdown as Hoover's term ended.
Some historians believe Roosevelt did this intentionally so as to put him in position for bolder policy proposals once he was inaugurated. As Obama hasn't even appointed a treasury secretary, and has kept his economic plan close to the vest, is it possible he's doing the same thing as FDR and secretly hoping things continue to spiral out of control before he's inaugurated thereby giving him more power to do what he wants?
