theWheel

theOwl

Here’s what Paul Krugman has to say about the Geithner plan. Unfortunately, it rings true to me. I fear Barack Obama and America are in great hazard here.  From Krugman:

The Obama administration is now completely wedded to the idea that there’s nothing fundamentally wrong with the financial system — that what we’re facing is the equivalent of a run on an essentially sound bank. As Tim Duy put it, there are no bad assets, only misunderstood assets. And if we get investors to understand that toxic waste is really, truly worth much more than anyone is willing to pay for it, all our problems will be solved.

theOwl

From Krugman’s latest New York Times column on the banking situation:

I just don’t get it. And my sinking feeling that the administration plan is to rearrange the deck chairs and hope the iceberg melts just keeps getting stronger.

(I found this link at Daily Kos)

theOwl

Paul Krugman at the New York Times says it’s time to nationalize the big insolvent banks.

I found this article at the Huffington Post.

theOwl

Have a look at Paul Krugman’s latest at the New York Times…

The fault, however, lies not in Republicans’ stars but in themselves. Forty years ago the G.O.P. decided, in effect, to make itself the party of racial backlash. And everything that has happened in recent years, from the choice of Mr. Bush as the party’s champion, to the Bush administration’s pervasive incompetence, to the party’s shrinking base, is a consequence of that decision.

Read the whole thing.

Owl

Paul Krugman tells us about the right wing’s problem with Al Gore.