Too little too late

Having trouble understanding the economic recovery plan? I am.

Mostly you hear from politicians who are trying to either mollify or stir up voters who know next to nothing about economics or the plans. So I turned to a guy who has a long record of representing middle America. Jim Jubak usually writes about which stocks to buy and sell for MSN.com. So now that nobody’s buying, he’s writing some of the most informed and provocative stuff about the recovery plan.

Here is his reaction to the $500,000 salary cap for bankers.

That's it? That's the punishment for the reckless risk taking that pumped up the housing bubble, turned a decline in home prices into a global financial crisis that could shake banks and governments to the core, set off a credit crunch that brought the global economy to a standstill and has necessitated a tidal wave of taxpayer bailouts that will saddle generations to come with a mountain of debt and lower economic growth?

He also takes a more realistic view of what really drives economic activity.

Most economic policy -- and most economic theory -- is built on an assumption that human beings behave rationally. Good luck with spending money effectively on that foundation.

I am making no attempt to summarize his opinions or prescriptions here. The topic is way too complicated, but I do urge you to read his columns as a way of cutting through the clutter from the point of view of someone who is motivated by the same things that are important to the average person. What a relief!

If more people would read what he’s writing, perhaps Congress wouldn’t be so quick to pander.