Thursday, March 19, 2009

Seems like that's what's happening:

Eugene Robinson says:
The basic strategy for handling the crisis, begun under the Bush administration and continued by Obama, is to hook up a fire hose to the Treasury and shower irresponsible and greedy financial institutions with money until the fire is put out.
It does appear that Geithner is operating on the assumption that by constantly feeding bailout money in small* amounts to banks (and AIG and others) that eventually the situation will stabilize and then recover. But is there enough money or political will to do that?

* "small" these days is on the order of $30 billion at a time.


Of course there's enough money---they can always print it.

The point is that it's grotesquely inequitable.

By Anonymous Anonymous, at 3/21/2009 3:22 PM  

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