Nobel Laureate Joseph Stiglitz has a great deconstruction of the Geithner toxic asset plan in the NY Times. If you want to see how the new corporate state works, where the government works with a small group of powerful insiders to the benefit of those insiders and the detriment of everyone else, this is a great example.
Stiglitz walks through how the Geithner plan will operate, and I want to do so as well. I have added a few tables to help illustrate his example a bit better.
Thursday, April 02, 2009
Posted by Brian Dunbar at 9:46 PM