Eliot Spitzer: Annoying Scold

The Eliot Spitzer Rehab album is out, but it seems that the Rev Dimsdale has been reborn as an even more boring version of the same tiresome scold. In the cited link he rather hysterically recycles some well-
known economic statistics and proposes some unimaginative and improbable remedies.

While we have addressed the credit collapse, we have not begun to tackle the far more daunting, and more significant, structural problems in the economy. Instead of focusing on the green shoots, let's examine the macro data that will determine our national prosperity in the next generation. These data are terrifying. . .

...why not take an amount equal to the AIG bailout (more than $180 billion) and invest in a product that would be truly worthwhile: high-speed rail along our major economic corridors? If we transform the L.A.-San Francisco corridor with high-speed rail, and D.C.-Boston similarly, the savings and technological advances would be enormous.

I love high speed rail, but to pretend that his short collection of make work projects is an adequate substitute for a functioning financial system is absurd. Yes, our economy needs some serious fix-up, but Eliot Spitzer is not the guy to tell us how. I liked him better as Dimsdale.

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