AP/Ron Edmonds
Jeffrey Sachs: The Geithner-Summers Plan
is Even Worse Than We Thought
Jeffrey Sachs: Insiders can easily game the system created by Geithner and Summers to cost up to a trillion dollars or more to the taxpayers. 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. Click here to read more.
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