Geithner Looks to Make Banks Lend and What Else

Update: Do read William K. Black on The Prompt Corrective Action Law, and Black's interview on the Bill Moyers show.

Geithner: We Won't Hesitate to Change Management at Banks; banks will lend or the bankers will be out of a job.

An increasing number of Americans will judge the policy addressing the banking crisis on the basis of how Americans are affected. Odd.

See Noam Chomsky on the economy and democracy. Plan is recycled Bush/Paulson. We need nationalization and steps towards democratization.

"When the Associated Press sent journalists to interview bank managers, investment firm managers, and asked them what they'd done with the TARP money [Troubled Asset Relief Program (TARP)], they just laughed. They said 'it's none of your business, we're private enterprises. Your task, the public, is to fund us, but not to know what we're doing. But the government could find out.'"

Much of the American public, veering into populism aka democracy, sees the financial managers as the incarnation of the voracious mafia chief, Fausti 'the Fist' Dellacava, in Jimmy Breslin's I Don't Want to Go to Jail.

The Fist often simplified questions over the allocation of resources by decreeing, "Give me all the money."