Criticism continues to grow about the Geithner Plan (the , which is just a refurbished version of the original Paulson Plan. The consequences of this plan’s failure — operational or political — could be severe.  Squandering the momentum of Obama’s first 100 days in office could make later and bolder economic plans difficult to sell. Political …
Here is a brief excerpt from a fascinating work of comparative history, highlighting the similarities between 1929 and 2009. History repeats, but this hurts too much to be farce. Published at the always-interesting TomDispatch, I recommend reading it in full. This excerpt discusses the bleak alternatives offered to us by our ruling elites — Bush’s …
Summary: Consensus opinion has slowly moved from characterizing this as a “subprime mortgage problem” to a “mortgage problem.” That is progress, but we have far to go before they see the full picture: that US households and businesses have too much debt — and that current trends likely will lead to nationalization of our financial …
Slow steps to nationalizing the US financial sector Read More »
