{"id":192520,"date":"2009-03-23T17:22:00","date_gmt":"2009-03-23T22:22:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/03\/23\/geithners-plan\/"},"modified":"2009-03-23T17:22:00","modified_gmt":"2009-03-23T22:22:00","slug":"geithners-plan","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/03\/23\/geithners-plan\/","title":{"rendered":"Geithner&#8217;s* Plan"},"content":{"rendered":"<p>So, the <a href=\"http:\/\/www.nytimes.com\/2009\/03\/24\/business\/economy\/24bailout.html?_r=1&amp;hp\">plan has been announced<\/a>, and it&#8217;s pretty much what I said over the weekend:  A massive subsidy to big investment firms, and the little guy can&#8217;t get in on the &#8220;3% down and that&#8217;s all you lose&#8221; deal.<\/p>\n<p>It&#8217;s the buy the sh%$pile with taxpayer money thing all over again&#8230;.and again&#8230;.and again.<\/p>\n<p>Geithner has <a href=\"http:\/\/online.wsj.com\/article\/SB123776536222709061.html\">an OP\/ED in the <span style=\"font-style: italic;\">Wall Street Journal<\/span><\/a>,<sup>\u2020<\/sup> where he rolls out the Treasury&#8217;s new weasel words for financial toxic waste, &#8220;Legacy Assets.&#8221;<\/p>\n<p>I&#8217;m sure that he thinks of Chernobyl as an &#8220;accelerated sunshine facility&#8221; too.<\/p>\n<p>We know that the financial masters of the universe love the subsidies, because players like <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601110&amp;sid=aEM3sqS8r6HM\">BlackRock<\/a> and <a href=\"http:\/\/www.cnbc.com\/\/id\/29835810\">Pimco<\/a> are falling all over themselves to get in.<\/p>\n<p>I won&#8217;t go over the problems with the plan here, you can look at <a href=\"http:\/\/40yrs.blogspot.com\/2009\/03\/geithners-new-plan-same-old-same-old.html\">my Saturday post<\/a> for that, but the short form is that Wall Street is mugging you.<\/p>\n<p><sup>*<\/sup><span style=\"font-size:78%;\">Really Barack Obama&#8217;s plan, because he is where the buck stops, though a lot  of the blame goes to Larry Summers too.<\/span><br \/><sup>\u2020<\/sup><span style=\"font-size:78%;\">Which, considering the WSJ&#8217;s editorial page reputation for outright deception, is utterly appropriate.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>So, the plan has been announced, and it&#8217;s pretty much what I said over the weekend: A massive subsidy to big investment firms, and the little guy can&#8217;t get in on the &#8220;3% down and that&#8217;s all you lose&#8221; deal. It&#8217;s the buy the sh%$pile with taxpayer money thing all over again&#8230;.and again&#8230;.and again. Geithner &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,1004,985,982],"tags":[],"class_list":["post-192520","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance","category-regulation","category-stupid"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192520"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=192520"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192520\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=192520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=192520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=192520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}