Does Everyone Think Giving Joe The Pumbler's Taxes to Banks Is a Good Idea?

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