[lbo-talk] JK Galbraith & Noam Chomsky vids on Geithner's plan

[B.]

Noam interviewed about Geithner's plan a few days ago, here:

http://www.youtube.com/watch?v=x1re9yBzqgY

And Galbraith, video at this URL:

http://finance.yahoo.com/tech-ticker/article/216690/%22Happy-Talk%22-Won%27t-Solve-Crisis-Galbraith-Says-Much-More-Govt.-Action-Needed

LOL @ poor Mr. Galbraith's video embedded under the Yahoo! Tech Ticker slogan of "I Love the Smell of Profits in the Morning!" :)

So, my understanding is the Dean Baker-Paul Krugman-James K. Galbraith-Noam Chomsky (and Doug Henwood?) "wing" are all in basic agreement about the FDIC using its authority to make a lot of these banks into 'bridge banks' (publicly-administered institutions); Baker recommends splitting up AIG to remove its finance arm from the rest of the company (Chomsky quotes this), obviously federal aid recipients should be more transparent...? Galbraith also mentions a payroll tax holiday and increasing Social Security benefits by 1/3 to replace income losses in the aggregate.

-B.