The big problem with Tim Geithner's plan to fix the banks is the same as it ever was: The gap between what banks say their assets are worth and what the market says they are worth.

When a bank says an asset is worth 60 cents and the market says it's worth 30 cents, someone has to cover that spread. The genius of Geithner's plan is that it pawns most of the cost (and most of the risk) off on the taxpayer without the taxpayer noticing. ("One Small Problem With Geithner's Plan: It Will Bankrupt The Banks," by Henry Blodget. The Business Insider. March 25, 2009.)

These "leftists" don't understand, or fear to say, that the plutocrats can't be bankrupted. So long as the mundane system is allowed to stand on account of the people keeping their fearful eyes shut, the plutocrats will always be rich in mammon right up to the bitter end of everything. The only way for the people to be free is for them to open their eyes and mouths to see and to speak the truth into transforming everything.

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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