Legal Commentary

"There Are Reasons"

By Big Tent Democrat

Eugene Robinson writes:

Both the credit crunch and the reluctance of consumers to spend what money they have left are the direct result of Wall Street's atrocious misbehavior. Yet the administration's plan for rescuing the banking sector involves generous inducements, big subsidies and the opportunity for wealthy investors to become much wealthier while assuming very little risk. There are reasons for structuring the bank bailout this way, and there are reasons to take a get-tough attitude with the auto companies. But the juxtaposition is galling -- and, for many autoworkers, potentially devastating.

(Emphasis supplied.) What are those reasons? I think the Geithner Plan is going to fail. Surely the reason is not that. I assume they think it is going to succeed. But is it really the only way to accomplish a plan Obama/Geithner think will succeed? Really?

Speaking for me only

Full post as published by TalkLeft on March 31, 2009 (boomark / email).