Monday, September 29, 2008

BailOut Handout to Wall Street Flawed and Will NOT Work

Then what?

According to David Sirota:

Harvard's Ken Rogoff, a Former Federal Rerserve and IMF official, insists that the prospect of this bailout is, unto itself, taking a manageable problem and making it into a more intense crisis. He says that credit is frozen primarily because banks want to avoid dealing with other banks that might drive a hard bargain, and instead would rather wait for free money from the government. Without the prospect of that free money, Rogoff suggests that credit would probably begin moving again, if slowly.

Check out the Top Five [Economic] Reasons this Bailout won't work.

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