Toosie rolls soothe souls

'Americans worry about the economy in part because of the infusion of hundreds of billions of taxpayer dollars, not in spite of it.' - WSJ 

In Geithner's new strategy to deal with toxic assets, liquidity is the first priority, but WSJ is still quite cautious about it. 

'So in essence this is an attempt at a slow-motion bank workout without a fight over a new resolution agency or having to ask Congress for more money.' 

How to attract private investors, and whether banks will sell enough toxic assets to make difference, are all quite uncertain. The largest risk, as it's been identified, is still to the tax payers, that WSJ warns that 

'the Obama Administration is instead leveraging the balance sheets of the Federal Reserve and Federal Deposit Insurance Corp., which will lend to the new public-private entities to buy the toxic assets.' 

Watchful eyes indeed!

What Obama can do? There is a review on NYT regarding a TV program called 'Frontline: Ten Trillion and Counting', 

'Now it is Mr. Obama who will have to make the case for sacrifice, though the Iraq war is winding down, and the one in Afghanistan is somewhat murky in the public mind.'

But as it's said, 'it's hard to sell a message of pain to Americans'. 

Ghee, is that the US we have perceived in our mind?

Perhaps in such a hard time, sweetie is something that one can turn to for the consolation, as this 'Tootsie Rolls Soothe Souls' indicates.