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IPFS News Link • Obama Administration

Yves Smith of Naked Capitalism on the Geithner Financial Fiasco

The difficult part of this interview is that the CNN reporter can't keep up with Yves Smith.

1 Comments in Response to

Comment by Brock Lorber (11655)
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The interviewer acted exactly like anyone who was tasked to make sense of the rantings of crazy cat lady.

I'm sure Smith could contradict herself more in that amount of time, but she'd really have to concentrate on it:

1) Geithner has no spine or plan - Geithner must nationalize banks and run them correctly

2) The bank CEOs must be cleared out - the bank CEOs must be replaced by the "experienced" bank CEOs that originally overlevered their banks

3) Buying "bad" overvalued assets is bad - buying "good" overvalued assets is good

4) Banks and their shareholders are too protective of whatever assets they have left - we must steal whatever assets they have left

5) "Bad" bank nationalizations are bad - "good" bank nationalizations are good

6) Somebody could determine which assets are "good" and which nationalization plan is "good" - none of the assembled players know "good" from "bad"

Insane rantings.