Robert Reich gives Obama an F on bailout

23 04 2009

Robert Reich in his blog;

The last grade is for the bank bailouts. I give them an F. I’m a big fan of this administration, but I’ve got to be honest. The bailouts are failing. So far American taxpayers have shoveled out almost $600 billion. Yet the banks are lending less money than they did five months ago. Bank executives are still taking home princely sums, their toxic assets and non-performing loans are growing, and the banks are still cooking their books. And now the Treasury is talking about converting taxpayer dollars into bank equity, which exposes taxpayers to even greater losses.

I would say thats pretty right on.  And if a Obama cheerleader like Reich is giving you an F on the bailout then you know you are doing something very very wrong.