[lbo-talk] Geithner Plan

Shane Taylor shane.taylor at verizon.net
Tue Feb 10 13:48:31 PST 2009


Doug Henwood wrote:


> It does, but I don't think the most urgent need for the U.S.
> economy right now is borrowing to finance fresh borrowing.
> It should be to promote an orderly deleveraging, a humane
> austerity program (meaning that it should fall on the top
> 5-10%), and a long-term transition away from consumption and
> towards (social) investment.

Sure, but I thought today was less about the long-term interests of the US economy than about servicing Barry's base on Wall Street?

I didn't mean to suggest that Obama went around Congress for the sake of doing right.

Shane



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