Monday, March 30, 2009

Geithner Plan: The Movie

Here's a video that illustrates how the Geithner bank plan works.

First it shows the official version of how private investors and the government join hands to profit while cleaning up the mess.

Then he shows the dark side. He shows how "financial engineering" can be used by the banks to buy their own toxic assets using government money to magically heal their balance sheet. It shows how the government will take the hit on the toxic assets:

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