Wednesday, September 24, 2008

The Bush Administration's Banking Rescue Plan

by Rodrigue Tremblay
(professor emeritus of economics at the University of Montreal)
Global Research, September 23, 2008

".....If I may simplify somewhat the situation, (but only slightly) we can say that over the last quarter of century, Wall Street firms bought out Congress and the White House (and paid at wholesale prices). Now, they want the U.S. government to buy them back (and they want to sell at retail prices).....

There is something surreal and profoundly immoral that the individuals who were front and center in creating the subprime financial meltdown are also those who have been entrusted by the government to solve the mess they have created. Are there not independent economic and financial experts in the United States who could have been assigned this task?......"

No comments: