Joseph Stiglitz (Nobel economist) writes in the NY Times (registration may be req'd) how the the Obama/Geithner plan is bad for taxpayers and ordinary citizens.  This is not real capitalism folks, it's gamed capitalism for the oligarchs. The main problem is not a lack of liquidity. If it were, then a far simpler program would … Continue reading “Ersatz Capitalism”, a.k.a. Crony Capitalism, aka Lemon Socialism, aka Obama Plan for Banks