Please see our video interview with Prof. Noam Chomsky of MIT. Feel free to post this video on your site.
The Real News Network team
Geithner's Plan is a Recycled Version of Bush/Paulson Program
"The plan is a win-win situation for investors and a lose-lose situation for American taxpayers"
With Timothy Geithner firing his opening salvos aimed at restoring America's badly broken financial system and turning it into what he calls a “better, smarter, tougher regulation”, lobbyists and interest groups in Washington have already begun their efforts to modify and block certain sections of the new regulations that they see contrary to their interests.
Today, the Real News Network, starts the first segment of a multi-segment interview with Prof. Noam Chomsky on Timothy Geithner's recently announced plans for the banks and clearing of their toxic assets. In this interview Prof. Chomsky mainly argues that the plan keeps the institutional structure intact without any meaningful reforms in it. Geithner's plan, based on Chomsky's assertion, essentially bribes investors and bankers in return for opening the credit markets to consumers and businesses.
Prof. Chomsky also states that Geithner's plan avoids the measures that might get to the heart of the problem, therefore avoiding the costs of changing the institutional structure. In the course of the interview Chomsky points out to the sense of contempt and ridicule that bankers and financial managers have had for the public even in the face of receiving the TARP money. He then calls for a serious commitment by financial institutions and corporations to be responsible to their stakeholders with direct public engagement on how these institutions distribute their money.
Watch the first segment of this interview on The Real News Network and stay tuned for the following segments:
The home of unemployed and the land of the broke - Planet Earth
This is my first attempt to share what i find on my journey towards unknown...
All of the content shared on this blog is solely for educational and intellectual purposes only. I would like to thank everyone who is responsible for producing various enlightning articles, analysis, audios and videos featured on this site.
I know why you're here. I know what you've been doing... why you hardly sleep, why you live alone, and why night after night, you sit by your computer. You're looking for him. I know because I was once looking for the same thing. And when he found me, he told me I wasn't really looking for him. I was looking for an answer. It's the question that drives us. It's the question that brought you here. You know the question, just as I did. The answer is out there, and it's looking for you, and it will find you if you want it to.
Please see our video interview with Prof. Noam Chomsky of MIT. Feel free to post this video on your site.
ReplyDeleteThe Real News Network team
Geithner's Plan is a Recycled Version of Bush/Paulson Program
"The plan is a win-win situation for investors and a lose-lose situation for American taxpayers"
With Timothy Geithner firing his opening salvos aimed at restoring America's badly broken financial system and turning it into what he calls a “better, smarter, tougher regulation”, lobbyists and interest groups in Washington have already begun their efforts to modify and block certain sections of the new regulations that they see contrary to their interests.
Today, the Real News Network, starts the first segment of a multi-segment interview with Prof. Noam Chomsky on Timothy Geithner's recently announced plans for the banks and clearing of their toxic assets. In this interview Prof. Chomsky mainly argues that the plan keeps the institutional structure intact without any meaningful reforms in it. Geithner's plan, based on Chomsky's assertion, essentially bribes investors and bankers in return for opening the credit markets to consumers and businesses.
Prof. Chomsky also states that Geithner's plan avoids the measures that might get to the heart of the problem, therefore avoiding the costs of changing the institutional structure. In the course of the interview Chomsky points out to the sense of contempt and ridicule that bankers and financial managers have had for the public even in the face of receiving the TARP money. He then calls for a serious commitment by financial institutions and corporations to be responsible to their stakeholders with direct public engagement on how these institutions distribute their money.
Watch the first segment of this interview on The Real News Network and stay tuned for the following segments:
http://therealnews.com/t/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=3484&updaterx=2009-03-27+10%3A57%3A14
Reza Akhlaghi
The Real News Network