Adam Posen: I do not lack all conviction.

the FT today:

The Obama administration remains opposed to federal control. Mr Geithner last week said: “Governments are terrible managers of bad assets.”

Others say he may eventually face no choice. “The danger we face is a Freddie Mac/Fannie Mae scenario where government gives the banking sector guarantees and then socialises the losses,” says Adam Posen, an economist. “That’s the worst thing we could do.”

Best and brightest: This is America. It's different.

NYT's Sheryl Gay Stolberg today:

And given his experience with the Asian financial crisis of the 1990s, some economists wonder how [Larry Summers] could have signed off on a bailout plan that did not force banks to admit that they were insolvent.

“The irony is that Summers and Geithner wrote the textbook on how to manage these crises, and they lectured countries all over the world on what to do,” said Adam S. Posen, deputy director of the Peterson Institute for International Economics, lamenting that they did not “follow through with their own prescriptions.”

if the New York Times were Wikipedia...

I'd tag this weasel word as follows:

Through his budget director, Peter R. Orszag, Mr. Obama committed to seeing that three-quarters of the combined spending and tax cuts would be used within 18 months, to provide the fiscal jolt that economists[who?] say is needed to jump-start the economy.

...of course, there would also be a lot more wrong with the article