Sunday, April 05, 2009

Public Private Partnership Program Scheme

Will taxpayers end up owning even more of these troubled assets, thanks to the Public-Private Partnership Program introduced by Treasury Secretary Timothy Geithner?

This program intends to give out loans with very easy terms to hedge funds in order to encourage them to buy up toxic assets from banks. The addition of private investors will undoubtedly inflate the price of these assets well above the market price. Why can't we figure out the true cost of these toxic assets and pay the price? Could it be because the true price is not high enough for the almighty banks? This is just another attempt to subsidize the banks at the taxpayers expense.

How come the government forces out the CEO of General Motors, yet has no problem with the CEO of Citigroup? Why don't we treat the banks like we treat the auto makers?


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