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A 2nd look at the Obama Toxic Bank Bail Out Plan

  • Broadcast in Politics Progressive
AAPolitical Slugfest

AAPolitical Slugfest


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The Huffington Post is reporting on how the backlash against President Barack Obama has begun with many prominent left-leaning economists in the US attacking the administration’s plans to bail out the banks. Paul Krugman describes the toxic asset purchase plan as “cash for trash”. Jeffrey Sachs calls it “a thinly veiled attempt to transfer hundreds of billions of US taxpayer funds to the commercial banks”. Robert Reich depicts Tim Geithner, Treasury secretary, as a prisoner of Wall Street while Joe Stiglitz says the plan “amounts to robbery of the American people”. Why are black folks so quiet? Ha Barack forgotten about poor people? Won't it hurt single, working black women the most? Why are black women so quiet?