David Einhorn Is Optimistic The Obama Administration Can Fix This Thing, Provided It Changes Everything It's Doing

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Sure, the Greenlight founder is disappointed with Obama and Co, which he believes is "following the same path as the Bush administration," as it attempts to bring us back to the heady days of 2006 ("by propping up asset prices and reflating the popped credit bubble, subsidizing bank creditors and shareholders, and delaying needed bank recapitalizations, while hoping for an economic recovery"). But! Einhorn is confident Bush II is smart enough to wake up and do the right thing. Here are his closing remarks from the Ira Sohn conference. Have to say, we are loving this passive aggressive side. Notice how throws the campaign's favorite word back at them?

"I am optimistic because even though I believe that Secretary Geithner is leading us down the wrong path, President Obama has demonstrated an ability to change his mind in other areas. To me, this reflects the work of an intelligent pragmatist acting upon fresh understanding. I am optimistic that President Obama is capable of making similar reassessments of the economic rescue plan, and changing direction there as well."

David Einhorn Strikes Again [Daily Intel]

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