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Get Ready for 'Hankie Pankie II'
Posted By Conn Carroll On February 2, 2009 @ 11:51 am In Ongoing Priorities | Comments Disabled
It is not everyday we get to agree with Paul Krugman, so it is our pleasure to link to his comments last week  about President Barack Obama’s burgeoning plans to request hundreds of billions of dollars of more borrowed money to further socialize our nation’s banks :
As the Obama administration apparently prepares to launch Hankie Pankie II — buying troubled assets from banks at prices higher than they will fetch on the open market — it occurred to me that an updated version of an old Communist-era joke may be appropriate: under Bush, financial policy consisted of Wall Street types cutting sweet deals, at taxpayer expense, for Wall Street types. Under Obama, it’s precisely the reverse.
Article printed from The Foundry: Conservative Policy News Blog from The Heritage Foundation: http://blog.heritage.org
URL to article: http://blog.heritage.org/2009/02/02/get-ready-for-hankie-pankie-ii/
URLs in this post:
 comments last week: http://krugman.blogs.nytimes.com/2009/01/29/bad/
 hundreds of billions of dollars of more borrowed money to further socialize our nation’s banks: http://www.nytimes.com/2009/02/02/business/economy/02value.html
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