The president’s challenge

President Barack Obama shouldn’t allow momentary rebounds in stock prices to lull him into a false sense of security. The banking crisis is still alive and kicking. And so long as his administration and the Congress dither over exactly how to resolve it, other initiatives to lift economic confidence – from fiscal stimulus to monetary easing - are likely to be futile. The administration has not yet managed to draw a line in the sand. This is largely because it has some broad ideas of a plan, r...