Geithner’s Plan and Inside the Meltdown
It only took a few hours after Treasury Secretary Tim Geithner announced his troubled-asset bank relief plan for House Minority Whip Eric Cantor (R-Virginia) to label it “fundamentally flawed” and a “shell game that hides the true cost of the program from the taxpayers that will be asked to pay for it.”
While the country’s economy struggles and attempts to “right the ship” have been met with heavy partisan politics, it appears Geithner’s “bank plan” is not sitting well with every Democrat on Capitol Hill either. Democratic Rep. Brad Sherman of California criticized the plan for rescuing banks while neglecting taxpayers. This is a common refrain that’s beginning to sound like a broken record: Why are we “bailing out” banks that got us into this mess?! Trust me, I’ve asked myself this many times.
