Some commentators may seem as if they are being reasonable when they give Secretary of The Treasury Tim Geithner's latest rehashing of the "private-public partnership" plan serious consideration as possibly having merit, but I'm here to tell you that such "analysts" are not only NOT being reasonable, they are being either naive or stupid.
One blogger, by the name of Karl Denninger, who has a marked tendency to toot his own horn whenever remotely warranted, thinks that Mr. Geithner's plan might work if it isn't "gamed". I'd laugh, except that I'm busy shaking my head in disbelief at such idiocy. Mr. Denninger doesn't seem to understand that any plan that has been demonstrated to be theoretically so easily gamed (by Mr. Denninger himself as well as Economist Yves Smith, among others) was almost certainly constructed that way precisely so that it would be gamed. Look who we are talking about for **&!! sake. Tim -No Tax Paying, I am a protegee of Robert Rubin, and look what dodgy business I pulled off I while was at the New York Fed- Geithner. He is Wall Street's creature, lock, stock and smoking barrel. And by now we all ought to know that what is good for Wall Street is almost certainly lethally toxic to the rest of the United States. RIGHT?
And as per today's action on the NYSE, Wall Street has shown that it absolutely loves Mr. Geithner's plan, which is the best possible proof that "the partnership plan" amounts to another sickening segment in an ongoing saga that, were it a novel, might be entitled, "The Impoverishment and Looting of the U.S Citizenry, Made Possible by the Crucial Assistance of the U.S. Government on Behalf of the Criminal Banksters of Wall Street!"