Do You Think Geithner's Toxic Asset Plan Will Fail?


The TAP will fail Us, not Them

I think that this plan will not so much fail the CEOs and COOs and CFOs and everyone else who steered us into this crisis. They're going to walk away just fine; no less rich, no less shamed, though no less criminal. They will not do time, they will not be punished for their anti-social and anti-democratic behavior.

The Toxic Asset Plan WILL fail us, the taxpayer, the every-day person. It will drive us deeper and deeper into debt, give the Corporatist/Conservative/New-New Republicans some rational, convincing arguments to throttle social spending altogether, and our institutions and vital social services will dwindle, crumble, and fall completely apart as we are chained to enormous and crushing debt to the rest of the world.

The Toxic Asset Plan is a lie, a fraud, a forgery. It's misguided, and fails to learn even from RECENT history. Just a whopping 20 years ago Japan tried this, and it destroyed the 1990s for them. Also 20 years ago, we performed recieverships on the S&L institutions, and it worked wonderfully. It seems that there is no real reason that it can't happen again.

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It is actually called PPIP

But I must say I like TAP better....

makes it more clear TAP the taxpayer.

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