Reply #10: Let's be completely frank

[Hawkowl]

Geitner is blathering, fucking IDIOT! He is basically spouting monetarist, Milton Friedman, Chicago school, economic drivel! He doesn't address the FAILURE of the markets at all, so he doesn't have to come up with remedies for market failure.

He views the problem in completely the wrong light. In his tiny, little, cockroach-like mind, he views the problem as a mere liquidity problem. Something to be fixed by shoveling as much money, as fast as possible at only the largest of the banking institutions. The "institutions" (I always think of "one flew over the cuckoos's nest") are simply stuffing the cash into their mattresses (aka vaults) for the onslaught of the hurricane of mortgages defaults now readily discernible on the bleak economic horizon.

His whole strategy is just Japan's 1990's strategy writ large. Someone should tell the malignant little asshole that the USA is the world's biggest importer, not the world's biggest exporter like Japan was. So our problem is going to be orders of magnitude much worse than Japan's ever was.

Which brings us to the real solution. We need a real economy. An economy that makes things the world wants and pays people enough money to buy the things they make! Having the top 5% taking 50% of the income from merely pushing imaginary financial instruments and forcing real goods and services companies into bankruptcy to profit from their breakups, is not an economy! It is economic suicide. Instead of continuing to shovel cash at these very same assholes who wrecked our economy, we should be investing in the real manufacture of goods and services.

The largest banks need to be broken up and forced into receivership. The way Teddy Roosevelt broke up the trusts in the early 20th century. It is the only way we will fix the economy in our lifetimes.