UK Bubble posted this video. It's 12 minutes, but it shows in detail how the Geithner plan is easily gamed.
Saturday, March 28, 2009
How to Game the Geithner Plan
Posted by
K T Cat
at
2:20 PM
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So I'm sitting there listening to this guy and wondering, "who will be the private investor?"
And then I got a really queasy feeling in my gut because I knew that in our Barack New World what the answer was going to be.
At the 6:30 mark where the dude says "the banks", I realized why the market bounced when Geithner announced his plan: Minimal exposure for the banks, max exposure to tax payer. Wonderful.
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