Friday, January 8, 2010

Nouriel Roubini Backs Geithner Plan: NY Daily News

Nouriel Roubini

Nouriel Roubini Geithner's new toxic asset plan is a serious step : NY Daily News

New York Daily News:

For the economy to be viable, the financial system must be healthy. For this to occur, the system needs to be cleansed of its poorly performing loans and so-called toxic securities backed by loans. This way, once creditworthy institutions and individuals come to the market looking for capital to borrow, financial firms will be in a position to lend them money.

Secretary Timothy Geithner's new toxic asset plan is a serious step in the right direction in that it creates a public-private partnership to buy the troubled assets of financial firms - in other words, to do the necessary cleansing. Up until now, with all the government bailouts, the financial system has been barely treading water. With this plan, it will still be a hard swim, but, at least, there is a path to shore.

Read Full story : New York Daily News>>>

1 comment:

Anonymous said...

Wasn't part of the reason they printed trillions of dollars in the stimulus/bailout fiasco to get rid of the toxic assets? Now they want to set-up another round of spending on OUR tab?
Just have the Central Banks in Europe pay for it since that is where a lot of the bailout money went anyway! Oh, that's right, we're supposed to be stupid Americans and NOT see through what is really happening with the economy and the New World Order and the Bilderberg Group and the Rothschilds...
Why is it that every time the so called "experts" come up with a solution, it ends up with the taxpayers tab getting ever so larger and the bankers getting ever so richer?
Why isn't this post in with the main-stream media's propaganda, did you piss off Rupert Murdoch or something?

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