Legal Commentary

The Geithner Plan: Tell Us Why

By Big Tent Democrat

Jeffrey Sachs writes:

Cynics believe that the Geithner-Summers Plan is exactly what it seems: a naked grab of taxpayer money for Wall Street interests. Geithner and Summers argue that it's the least bad approach to a messy situation, in which we need to restore banking functions but don't have any perfect ways to do that. If they are serious about their justification, let them come forward to confront their critics and to explain to the American people why the other proposals are not being pursued.

Let them explain the hidden and not-so-hidden risks to the American taxpayer of the plan that they have put forward. . . . So far Geithner and Summers tell us that their plan is the only option, but without a word of further explanation as to why.

(Emphasis supplied.) Precisely.

Speaking for me only

Full post as published by TalkLeft on April 06, 2009 (boomark / email).