pup34

Moreover, the banks should not only reorganized on a pre-Graham-Belisle basis , but the government should take over the investment banks that emerge from this reorganization. But first, Geithner should be sacked. Get rid of all insiders in the new government. That, you could call change. Otherwise, Obama is bullshitter extraordinaire.

it’s a massive crime. but worse he setting us up to fail. i see no way his plan can work – but i do see him bankrupting the rest of us in the process. oh, and did you hear him say that spending all this money will require us bringing down the cost of SS and medicare? entitlement reform is on the table.

but he did go to the mat to make sure the zombie bankers could all keep their nice jobs and fat bonuses. i wish i knew how to describe how much i despise geithner.

I think Joe Stiglitz had it right in his interview on TPM. The government should just let the banks go into title 11, screw the shareholders and the lenders, and let the refinancing take its own course. Good work for lawyers, too. Depositors will be protected, but unfortunately not the pension funds (which belong to you and me). The hit is going to hurt people all across the social spectrum. I could accept socializing the losses, if the marginal tax rates on incomes above $500,000 were back at 90 percent. There’s no reason why the poor should pay for this fiasco. But whatever the case, somebody is going to have to take the hit.

What do you mean? They don’t seem particularly weird to me…

Then obviously it’s just me; I think ‘Keebler’ every time I see him.