Krugman saddened by Obama economic moves-1/2

"The Zombie Ideas Have Won" - Paul Krugman on $1 Trillion Geithner Plan to Buy Toxic Bank Assets

Treasury Secretary Timothy Geithner is preparing to unveil a plan today to purchase as much as $1 trillion in troubled mortgages and other assets from banks. The government is reaching out to hedge funds, private equity firms and sovereign wealth funds to help buy the toxic assets. The Obama administration has described the plan as a public-private partnership, but most of the actual money will be put up by the government. We speak with Nobel Prize-winning economist and New York Times columnist, Paul Krugman.

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• Paul
• Krugman
• geithner
• obama
• toxic
• assets
• bailout
• economic
• democracy
• now

[drewd1987]

Peter Schiff is wayyyy smarter than this hack..

[shakaama]

One point of correction. you say that NO ONE is purchasing the toxic assets. That is incorrect. Bloomberg reports there are purchasers of these toxic assets already. The problem is that, like stocks, once the investors find they can purchase these toxic assets, the prices fall. The Geithner plan seeks to stabilize the price.

THERE'S NO NEED FOR THE GEITHNER PLAN. This is just a ploy to maintain his bank friend's interests in these toxic assets prices.

It's just a scam.

[Cambodia69]

All of the banks whose wealth, similar to the wealth of the U.S. built from genocide and slave labor, was created from fcuking people over should have their buildings turned into living spaces for the homeless, working class poor, and other marginalized segments of the population. All of the new lovely prisons that keep being built, originally made for you and I, should be the new homes for the bankers and their enablers.

[mrktwn]

Your attempt at calling a spade a spade has failed. The truth is Krugman saw this coming. Regardless of your opinions of Keynesian economic theories, he saw this coming. Dont be so dogmatic. The only difference between dogma and opinion is consistency. Oh by the way.... Objectively, Objectivism is nothing more than a dogfight.

[truindep]

you're a fool. i've been reading that neo-keynesian hacks blog for years and he did not. they're both fvcking clueless. you don't spend your way into prosperity.

[mrktwn]

...I'm going to give you the fucking clue that I have. Krugman saw this present recession coming. Obama isnt really a "fucking idiot" either. Just intent on more or less the status quo. There. I've got a fucking clue and I just gave it to you.

[truindep]

they're both idiots, "numbskull."

get a fvckin clue.

[mrktwn]

Did you listen to this?? Listen numbskull, if you cant pick out the real "idiot" from the two, YOU are the "fucking idiot"!

[indigocarma]

idiot

[Azzaiel]

while we all posture as "Free".