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PPIP is a really bad program. Stiglitz

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edhopper Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-17-09 09:09 AM
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PPIP is a really bad program. Stiglitz
“The Public-Private Investment Program is a really bad program. You’re really bailing out the shareholders and the bondholders. Some of the people likely to be involved in this, like Pimco , are big bondholders.
-Joseph Stiglitz

Read more;
http://www.ritholtz.com/blog/2009/04/stiglitz-blame-summers/#comments

It is important to continue to point out where the Obama Economic Team fails in their policies.
Obama has the wisdom to do the right thing, if his advisers are misguided, one hopes he will listen to those voices that can help him see reason. And by that I mean the ones he is not listening to, Stiglitz, Johnson, Krugman, Reich, Volker, Baker, Roubini......
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GoesTo11 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-17-09 09:22 AM
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1. What would Stiglitz know about markets for toxic assets?
Do you think he's ever even bought a used car?
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