Reply #17: OK, where does the money for that come from? [View All]

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First off, a lot of that stuff is peripheral. We're talking about Geithner's plan for toxic assets.

Kuttner's plan is to nationalize insolvent financial institutions. We do that already with a thing called the FDIC. Given that, I'll have to assume he means taking over Citigroup, Bank of America, and etc. Receivership puts 100% of the risk on us and 100% of the cost on us. That makes the cost of Geithner's plan look thrifty in comparison. I find it amazing that all of these people who sound alarm bells about the risk and cost of Geithner's plan then propose alternatives which shift even more risk and costs onto the US government.