“The president of the European Union on Wednesday slammed U.S. plans to spend its way out of recession as ‘a road to hell.’ Czech Prime Minister Mirek Topolanek, whose country currently holds the rotating EU presidency, told the European Parliament that President Barack Obama’s massive stimulus package and banking bailout ‘will undermine the liquidity of the global financial market.’”
There’s “one small problem with Geithner’s plan: It will bankrupt the banks,” says analyst Henry Blodgett, triggering a chain reaction of write-offs.…









