Plans and Consequences
by tdaxp ~ July 11th, 2009
Because of Geithner’s influence as Treasury Secretary, we spend our nation’s wealth subsidizing the lifestyle of specualtors, lurching from one method of subsidizing the Oligarchs to another, and asking people not to pay their mortgage.
This has costs, both direct (the money we spend) and indirect (what we could have purchased instead).
No billion dollar wind farms, for instance. America’s economic stance under Tim Geithner is as senseless as Taiwan’s opposition party: Geithner should be a fringe lunatic, not given a seat of authority.
I think this is your...
July 13th, 2009 at 6:38 am
Did I miss something? Where does it say that people are being asked not to pay their mortgage? Not in the Calculated Risk blog, nor in the Washington Post article.
July 14th, 2009 at 11:16 am
Bingo,
Thanks for the comment!
Geithner’s inducement to not pay mortgages is in the form of extralegal pressure being applied to banks and other mortgage-holders. His cheap talk is all over the map. I am focusing on the reality of the plan, not in how Geithner describes it.