Dear GOP

Tax cuts – why? Give me reasons. Real ones. Please. Do it now.

Apparently, Geithner’s plan hobbled. In reading what his plan might have entailed I’m glad this horse was shot.

Senior economic officials had several approaches in mind, according to officials involved in the discussions. One would be to create an “aggregator bank,” or bad bank, that would take government capital and use it to buy up the risky assets on banks’ books. Another approach would be to offer banks a government guarantee against extreme losses on their assets, an approach already used to bolster Citigroup and Bank of America…..For one thing, the government would likely have to put trillions of dollars in taxpayer money at risk, a sum so huge it would anger members of Congress. Officials were also concerned that the program would be criticized as a pure giveaway to bank shareholders. And, finally, there continued to be the problem that had bedeviled the Bush administration’s efforts to tackle toxic assets: There was little reason to believe government officials would be able to price these assets in a way that gave taxpayers a good deal.

*twitch*

Monday, the Pirate Bay copyright case began in Sweeden and today half of the charges have been dropped … and it doesn’t sound like the prosecution has much of a leg to stand on remaining.

Don’t call it a concession – Pakistan takes flak for concessions to militants

That’s okay though, apparently, we’re sending 10,000 troops to Afghanistan.

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~ by Auntie Ranty on February 17, 2009.

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