People who have actually read the fine print of the Administration’s trillion-dollar toxic asset buy-up program don’t like it. One calls it “pure plunder.”
Both liberals like Nobel Laureate Paul Krugman, and conservatives like Chris Stirewalt, sum up the program as “Heads I win, Tails the Taxpayers Lose.”
Others argue it provides “public subsidies” for hedge funds that don’t need them, and for “zombie banks” that ought to be shut down to cut the taxpayers’ losses.
Even Harvard business law professor Lucian…
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