Nassim Taleb Says Geithner’s Bank Plan Will Fail

April 1 (Bloomberg) -- U.S. Treasury Secretary Timothy Geithner’s plan to remove toxic assets from bank balance sheets will fail to revitalize the financial system, “Black Swan” author Nassim Nicholas Taleb said.

Rolling Stones on the Economy, Wall Street and Washington

Rolling Stone magazine has an article on the economy, Wall Street and Washington. Think that maybe the people are beginning to understand that nothing has really changed, that the government is continuing with its mismanagement of the economy and markets, but now doing more of it, bigger and faster.

It is amusingly wild-eyed stuff from on AIG, the Fed, etc. it is enthusiastically written, even if somewhat hyperbolic in its claims. For example, just because the writer hasn't seen the hodge-podge -- Term Auction Facility, the Term Securities Lending Facility, the Primary Dealer Credit Facility, etc. -- of Fed credit programs on billboards doesn't make them "secretive".

Anyway, it's worth a read:

It's over — we're officially, royally f__k_d. no empire can survive being rendered a permanent laughingstock, which is what happened as of a few weeks ago, when the buffoons who have been running things in this country finally went one step too far. It happened when Treasury Secretary Timothy Geithner was forced to admit.....