Just Hire The Kroog Already, Barry

Teh Kroog on AIG:(emphasis mine)

I’ll leave to others the question of who knew or should have known that the bonus firestorm was coming; but it’s part of a pattern. At every stage, Geithner et al have made it clear that they still have faith in the people who created the financial crisis — that they believe that all we have is a liquidity crisis that can be undone with a bit of financial engineering, that “governments do a bad job of running banks” (as opposed, presumably, to the wonderful job the private bankers have done), that financial bailouts and guarantees should come with no strings attached.

This was bad analysis, bad policy, and terrible politics. This administration, elected on the promise of change, has already managed, in an astonishingly short time, to create the impression that it’s owned by the wheeler-dealers. And that leaves it with no ability to counter crude populism.

Which is why Timmy should be replaced with somebody who understands this basic fact.

It's not liquidity, it's solvency. Period.

If Geithner doesn't get that (and Teh Kroog is basically saying so), despite the myriad political problems that will arise from replacing him, he still must be replaced by somebody who gets that (or he must be made to understand that, one of the two). It really is that simple.

I mean for crap's sakes, even John McCain's economic adviser understands it's Plan N time.

[UPDATE] Americablog's John Aravosis joins the dump Timmy movement.