eschatonblog.com - 3/24/2009
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Stiglitz: The U.S. government is basically using the taxpayer to guarantee against downside risk on the value of these assets, while giving the upside, or potential profits, to private investors, he said. "Quite frankly, this amounts to robbery of the American people. I don't think it's going ...
rortybomb.wordpress.com - 3/26/2009
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rortybomb.wordpress.com —
I want to explain the Geithner Put for
those without a finance background who want to understand
how FDIC is going to get looted. (Warning: Will contain graphs, and be long and boring even by normal standards here.) Recap: Banks have “toxic ...
(more)
Modeling an FDIC Robbery.
uk.reuters.com - 3/31/2009
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uk.reuters.com —
LAGOS (Reuters) - Police in Nigeria are holding
a goat on suspicion of attempted armed robbery. Vigilantes
took the black and white beast to the police saying it was an armed robber who had used black magic to transform himself into a goat to escape ...
(more)
Nigerian police detain goat over armed robbery
| Oddly ...
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Stiglitz: Geithner Plan "Badly Flawed"
TalkLeft —
Via Atrios, Stiglitz rips the Geithner Plan: The U.S. government plan to rid banks of toxic assets will rob American taxpayers by exposing them to too much risk and is unlikely to work as long as the economy remains weak, Nobel Prize-winning economist Joseph Stiglitz said on Tuesday. "The Geithner plan is very badly flawed," Stiglitz told Reuters in an interview during a Credit Suisse Asian Investment Conference in Hong Kong. U.S. Treasury Secretary Timothy Geithner's plan to wipe up to US$1 trillion in bad debt off banks' balance ...
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