As a former Clinton supporter and extreme Obama skeptic, it's scaring me how much I find myself agreeing with Geithner. In the argument between the great Paul Krugman and the near-great Brad De Long, I guess I side with the latter. I think this thing will work. Moreover, I don't believe we have a shot at implementing the grand structural changes that Krugman wants. At least not now. But nobody really knows anything.
Posted by Rick at March 31, 2009 11:32 AMThe big banksters are already use TARP funds to buy up more toxic assets (in fact, they are paying MORE than others are willing to pay). Why??? Because Geithner's plan is to pay more than the toxic assets are worth.
We're being fucked and the AIG bonuses are just a distraction.
The final outcome? The debt will grow so large that the elites will demand that we slash Social Security and Medicare.
Posted by Gay Veterans at March 31, 2009 12:36 PMThe thing bothers me is that Obama administration is so tough with auto companies in demanding a proper plan and pressuring the GM CEO to step down for mere $30B while the banks got $300B with no demand for plans or asking the CEOs to step down.
I think policies like these are going to bring down this administration.
Posted by suresh at March 31, 2009 01:41 PMNow that a real to life fascist has made his Mussolini move, will anybody say what?
Posted by onar at March 31, 2009 05:50 PM