The Power of Shame. (continued)

I do believe that it's going to take an attitude adjustment, a major change in how we measure and what we value in this country, to get it back on track again. No more applause for those who game the system, and "win" by fudging the rules, and taking care of their own, at the expense of other players on the same team.

This weekend, not in a column but in his blog, Paul Krugman stepped up to the plate, and slugged a recent pitch by Alan Greenspan.* Judge men by their todays -- what have you done for the country lately?, and don't be afraid to challenge others because of some lofty "reputations".

Particularly where the overall record is so poor, in total:

March 20, 2011, 5:02 pm
Rantings of an Ex-Maestro

Some people have asked me for reactions to this piece by Alan Greenspan on how Obama’s activism is preventing economic recovery. I could go through the weak reasoning, the shoddy econometrics that ignores a large literature on business investment and ignores simultaneity problems, etc., etc..

But never mind; just consider the tone.

Greenspan writes in characteristic form: other people may have their models, but he’s the wise oracle who knows the deep mysteries of human behavior, who can discern patterns based on his ineffable knowledge of economic psychology and history.

Sorry, but he doesn’t get to do that any more. 2011 is not 2006. Greenspan is an ex-Maestro; his reputation is pushing up the daisies, it’s gone to meet its maker, it’s joined the choir invisible.

He’s no longer the Man Who Knows; he’s the man who presided over an economy careening to the worst economic crisis since the Great Depression — and who saw no evil, heard no evil, refused to do anything about subprime, insisted that derivatives made the financial system more stable, denied not only that there was a national housing bubble but that such a bubble was even possible.

If he wants to redeem himself through hard and serious reflection about how he got it so wrong, fine — and I’d be interested in listening. If he thinks he can still lecture us from his pedestal of wisdom, he’s wasting our time.

It's the only way out, I can see, making real changes and scorning those who've contributed to the country's downfall.

Maureen Dowd did the same with ex-Sen. Chris Dowd in her Sunday column, though it seems some readers missed the subtlety. She brought him to the party, so to speak, and let him reveal himself -- make of him what you will. Not an outright attack, but not everyone has the same strong points. The more we can see these others in action, how they think, how they reveal themselves through their own stories and words ... well, the thinking reader can judge for himself. That's Dowd's strength as a writer -- did it with the Bushes and Republicans too -- getting people to reveal themselves in their own words and ways, people who don't recognize how bogus they are.

Sometimes, I think constructive criticism works best if we all can police our own. Not to pigeon-hole, but because up close, we all can observe and know best our own foibles... the criticism hits home harder. Think Bill Cosby.

I'm glad Krugman wrote his blogpost slamming Alan Greenspan, just as Dowd did last week too with Paul Wolfowitz. Too much respect, based on tradition or "civility" or the urge to stay in the loop where such niceties are commonplace for access, serve no one overall. We've become kind of an overfed, artificial country like that, in many way. Bogus in reality. And we've no one to blame but ourselves.

Now, if only we could heap a little scorn on all those well-dressed, rich folk who profited in the financial industries for their "work" -- not be envious of their major moolah, but consider how it was earned (or not)... Yes, it's going to take a major shift in values in this country, somebody to Bust a Move so to speak.

...
Up and on the streets you're strollin',
Real high rollin',
Everything you have is yours and not stolen...

----------------

* ADDED: Krugman updates the blog subject today:

March 21, 2011, 9:42 am
Greenspan Deconstructed
I wrote my quick reaction to Greenspan after a hard day of column-writing. If you want a bit more economic analysis, read Brad DeLong. As Brad says, to accept Greenspan’s thesis you have to believe, simultaneously, that businesses are terrified of future confiscatory government action, and that investors are so bullish on business prospects that they’ve bid stock prices of hugely since Obama took office. Oh, and business surveys show that poor sales, not any imagined threat from government, are the reason for low investment.

Greenspan is just making stuff up — out of his deep wisdom, which he still believes in despite his failures — to support a political agenda.

And, in another blog topic (Elizabeth Warren is Not Jesus), Krugs shows his age (tired, worn-out), and his own weaknesses in fighting mode.

Ah, ye of little faith...

My general view of politics and policy is that there are no saints and no geniuses; place too much faith in anyone, and you’re bound to be let down. But there are villains, and they need to be fought.

Don't try to do or know-it-all, man. Know your role. and, Trust in the young blood, still coming up. Leave the real fight for another day and time, for those better prepared in time-tested strategies and means? You don't have to be the best, or most expert, on all topics. Just respect others, and see what you get in return.