Bank Rescue 2.0: Treasury Could Dump Toxic Assets Online
OPS_admin | Apr 01, 2009 | Comments 0
Bank Rescue 2.0: Treasury Could Dump Toxic Assets Online
The Treasury Department is not ruling out (though, not endorsing either) a novel proposal floated in small circles of tech/finance experts: to post Wall Street’s toxic assets online, so any American with an Internet connection has the chance to assess their value.
“Treasury hasn’t endorsed or rejected the idea,” said an official at the Department.
Economists and activists are intrigued by the plan, with some speaking highly of it. They argue that an online index could boost the government’s efforts to purge banks of their dead weight, and open up a process that is currently expected to be highly secretive and overseen by just a handful of Wall Street’s most powerful firms.
“An economist would generally tell you that more information is good, and that this would help us with the price discovery process, or someone will use this in a way no one thought of,” said University of Oregon economics professor Mark Thoma. “In the end it probably won’t do much harm and could do some good.”
via Bank Rescue 2.0: Treasury Could Dump Toxic Assets Online.
Filed Under: Economy - Labor
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The oligarchs openly talking about a coup d'état in America?
Multi-millionaire lobbyist Grover Norquist is calling for the impeachment of President Obama. In an interview with the right-wing National Journal - Norquist warned that if President Obama wins re-election and decides to let the Bush tax cuts for the top 2% expire at the end of the year - then Republicans will "have enough votes in the Senate in 2014 to impeach [him]."What does that mean? It means that the super rich in America - and their political operatives like Norquist in Washington, DC - have now compared a tiny tax increase on the wealthy to high crimes and treason - the only Constitutional basis Congress can use to impeach a President. It sounds like the oligarchs are now openly talking about a coup d'état in America.-Thom(Do you think will try it? Tell us here.) -
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The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. 
