Joe Nocera on the State of the U.S. Economy

Listen to it all from NPR. Note especially what he says about the so-called “Geithner plan” to rescue the banks. At some point it is going to dawn on more people that significant questions need to be asked about this plan and whether it is the right approach, since so many thoughtful industry participants and observers do not think so. But maybe that is just yours truly, since I am worried about the plan–KSH


Posted in * Economics, Politics, Economy, Office of the President, Politics in General, President Barack Obama, The 2009 Obama Administration Bank Bailout Plan, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The U.S. Government, Treasury Secretary Timothy Geithner

2 comments on “Joe Nocera on the State of the U.S. Economy

  1. Jeffersonian says:

    Ultimately, these “toxic” assets must be valued by the market. This shell game Geithner is playing is just an attempt at delaying the inevitable while shuffling the liability off onto taxpayers.

  2. Jeffersonian says:

    Or maybe the objective is to get the banks on the federal nipple so you can [url=]tell them what to do and with whom[/url].