Tuesday, February 17, 2009

Solution: Blame Republicans Because You Suck

"According to several sources involved in the deliberations, [Treasury Secretary Timothy F. Geithner, above] had come to the conclusion that the strategies he and his team had spent weeks working on were too expensive, too complex and too risky for taxpayers.

They needed an alternative and found it in a previously considered initiative to pair private investments and public loans to try to buy the risky assets and take them off the books of banks. There was one problem: They didn't have enough time to work out many details or consult with others before the plan was supposed to be unveiled."

-- Neil Irwin and Binyamin Appelbaum, on Obama's financial guru's economic version of "Hillarycare," in The Washington Post.

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