Two Out of Three IS Bad

The market is crapping all over President Obama's economic leadership. The Geithner-announced bank plan...barf. The stimulus bill...barf. Next up is Obama's plan for stabilizing the housing market (which it could be argued doesn't need help). Frankly, I expect a barf on that too. The market has come to the determination that Obama is supine - the stimulus is Pelosi's, with compensation caps by Dodd; the bank plan is, well, nobody's, and the housing plan is likely to be Barney Frank's. Volcker? Buffett? All these other assorted economic geniuses? MIA. Why did we elect this guy if this is what we were going to get?

UPDATE: Shaping up to be strike three. Looks like more heavy-handed, tin ear type of stuff. If I'm running a bank, I'm going to hide under my desk rather than lend and be subject to a cram-down. Hopefully, this is Obama's trial balloon leak, and the plan will get altered. If not, as I said, hang on.