Eliot Spitzer on Stephen Colbert

| 3 February 2010 16:52

For your amusement as well as your understanding of critical banking and finance reform issues. The funny thing about Colbert and Jon Stewart, his partner in crime at Comedy Central, is that they have a certain bread and circus appeal to them, don’t they.  Is that what it takes to get Americans to take real issues seriously?

avatar About Edward Harrison

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages, a skill he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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5 Comments

  1. avatar dansecrest says:
    3 February 2010 at 22:23

    Spitzer makes some good points, and is very critical of the Obama Administration. He probably overdoes it in describing how we have to rely on China to loan us money. That’s not quite right…

    • avatar Edward Harrison says:
      3 February 2010 at 22:26

      I didn’t find that part convincing either. But it was good otherwise.Sent from my Nexus One

    • avatar Marshall Auerback says:
      3 February 2010 at 23:10

      In a message dated 2/3/2010 15:27:42 Mountain Standard Time,
      writes:

      Spitzer makes some good points, and is very critical of the Obama
      Administration. He probably overdoes it in describing how we have to rely on
      China to loan us money. That’s not quite right…

      It’s not right at all. Eliot Spitzer made a lot of good points, but his
      idea that China is our banker is a total fallacy. Only the US government
      issues US dollars – not China, Japan, any European country, no country at all.
      These countries may buy US government bonds but they use US dollars which
      they get through trade.
      The US government never loses its ability to spend in US dollars and
      actions by foreign countries have no influence on that capacity. To suggest
      otherwise is to lie.

      • avatar Edward Harrison says:
        3 February 2010 at 23:59

        Marshall, Spitzer isn’t necessarily lying anymore than people are lying when they use the household budget analogy to represent the U.S. fiscal situation. The logic may be wrong – as it is in the case of Spitzer saying we are begging the Chinese – but it doesn’t mean he is lying.

        • avatar Marshall Auerback says:
          4 February 2010 at 00:06

          In a message dated 2/3/2010 17:00:04 Mountain Standard Time,
          writes:

          Marshall, Spitzer isn’t necessarily lying anymore than people are lying
          when they use the household budget analogy to represent the U.S. fiscal
          situation. The logic may be wrong – as it is in the case of Spitzer saying we
          are begging the Chinese – but it doesn’t mean he is lying.

          YOu are correct. He is severely misinformed.