Geithner plan: Another subsidy for the rich?

Our Future
by Isaiah J. Poole

04/23/09

The Obama administration this week got a warning shot across its bow against structuring a bank resuce plan that would amount to yet another taxpayer subsidy of the wealthy. It’s a shot that progressives who have the administration’s ear on economic policy need to echo. That shot was fired when Treasury Secretary William Geithner was grilled before the Congressional Oversight Panel on Tuesday. The panel is probing the federal government’s financial rescue efforts. Damon Silvers, associate general counsel for the AFL-CIO and a member of the panel, zeroed in on the administration’s plans for a Public-Private Investment Program, which would buy up so-called ‘toxic assets’ from financial institutions, using a mix of taxpayer and private-investor dollars...

http://tinyurl.com/d4hf8q



Black magic dollars

Asia Times
by Richard Daughty [The Mogambo Guru]

04/23/09

Federal Reserve chairman Ben Bernanke is proving an ever-more adept apprentice of his predecessor, the sorcerer Alan Greenspan, as he creates yet more billions of dollars out of thin air, while a lulled and ever-more impoverished audience is told that inflation is actually falling!!

http://www.atimes.com/atimes/Global_Economy/KD24Dj01.html


Informant: Thomas L. Knapp



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