The Associated Press apparently thinks so. It could not find anyone who thought the idea of buying junk assets from banks was fundamentally a bad idea because it would almost certainly mean further taxpayer subsidies of banks.
All the experts cited in the article accepted that the basic idea was a good one. It's probably also worth noting that the experts cited in the article somehow were not capable of seeing the $8 trillion housing bubble, the collapse of which has led to the worst economic crisis since the Great Depression.
--Dean Baker
We can't do this without your support!
The American Prospect strives to be a champion for informed discussion on progressive public policy. Our brand of independent, fact-checked reporting does not come cheap.
When you support the Prospect, your dollars go directly to our mission to cover concentrated corporate power, the financial industry, the labor movement, immigration, infrastructure, foreign policy, the disaster of neoliberalism, the climate crisis, and so much more. If it matters in progressive politics, the Prospect is — and will be — on top of it. But only with your help.
CLICK HERE TO SIGN UP TODAY. THANK YOU!
