World-News

The Geithner Bubble

Jacques Attali, L'Express: "In some people's eyes, a miraculous emergence from the crisis is brewing: Through the combined play of the Geithner plan, (which allows investment funds and banks to buy other banks' toxic assets, borrowing most of what they need to do so from the Federal budget) and accounting changes (which allow banks to carry those assets at an inflated value), we see a derivatives market take hold in which some will sell these assets at a very high price to others in order to buy more of those assets at a still higher price: so that an asset value bubble will form, entirely financed by the taxpayer."

http://www.truthout.org/041609G

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Is Geithner's Hedge-Fund Bailout Illegal?
http://www.commondreams.org/view/2009/04/16-6



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