Geithner looks like he got it wrong

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Dennis Howlett has written a first rate blog summarising progressive reaction to Tim Geithner’s bail out plan for the USA.

As he notes, Joe Stiglitz calls this ‘robbery’ from the US taxpayer.

I admit my concern about what is happening increases almost daily. The bankers clearly mean to keep control. The consequences could be disastrous.

I am seriously hoping this won’t end in tears — but can’t see how when Brown and Obama have basically now handed over control of the UK and US economies to the very people who created the current crisis how any other outcome is likely.

In the meantime Dennis asks the very reasonable question of why accountants aren’t protesting. I wonder the same about tax havens — which simply impose a tax burden on the client’s of most of them.