Politico: Economists becoming skeptical of bailout
Paul Krugman - “I hate to say this, but looking at the plan as leaked, I have to say no deal..." “Not unless Treasury explains, very clearly, why this is supposed to work, other than through having taxpayers pay premium prices for lousy assets.”
Yves Smith - "Given that continuing to buy U.S. assets will come under increasingly harsh scrutiny overseas, the U.S. needs to bend over backwards to devise a plan that at least looks credible in terms of directing the funds that come from taxpayers and lenders to their highest and best uses and implementing reforms that will restore active and prudent oversight of financial firms..." "The administration's demand for a free pass, even if Congress unwisely goes along, is likely to backfire with our foreign creditors."
Gregory Mankiw - "Has more money ever been given with fewer restrictions on how it is used? Ever?"
Sebastian Mallaby - “The administration proposes to buy up bad loans before the lenders go bust..." “Bad loans are weighing down the financial system precisely because private-sector experts can't determine their worth. The government would have no better handle on the problem.”
1 comment:
It's pretty obvious who HANK is fronting for, ( I love how all his pals on TV call him Hank now) anyway, he's the one ironically who is trying to put lip stick on a pig here and then sell it to us a premium pork. Why should any of us buy this stuff when they all of them know damn well it's all just a load of worthless paper. I say let the chips fall were they may with all of this. These toxic klowns wanted a free market then so be it. Why should we now move the goal posts so they don't suffer the consequences of their lying, cheating, & stealing? We all know Goldman Sachs was selling this shit and knew damn well what it was cause they made damn sure almost none of it was in they're accounts. I say fuck these Titans of Finance. They rolled the dice and they came up a crapper. T.S.!! Nobody would have any sympathy for the any of the rest of us would they if we took our savings and went to Vegas and lost it on the Craps tables. This is worse they lost it knowing it was a bad gamble. Instead, they're trying to scare us once again into submitting to another Patriot act or Iraq war. ENOUGH!! I wouldn't believe anything any of them are farting, including the cowardly Demos. Pelosi and Reid are gutless now we'll see up front if Obama is just as gutless. The GOP is setting a trap for him here. It's another one of their klassix traps damned if u do damned if u don't. I say DON'T this time and tell the public why! In any event the powers to be intend to Fuck us all in this deal and while their at it finish off whats left of our country. Throw them all out and into jail is what I say. We need a REVOLUTION here!! ENOUGH is ENOUGH !!
Post a Comment