David Kirkpatrick

February 17, 2009

Five-act play on Wall Street stupidity

Filed under: Business, Politics — Tags: , , , , — David Kirkpatrick @ 2:35 pm

Pretty funny stuff from MainStreet.com. Here’s five bits of prima-facie evidence of Wall Street stupidity.

From the link, number one with a Dumb-o-meter score of 95:

If Tim Geithner actually believed his “Financial Stability Plan” was going to calm anybody, we’d hate to hear his ideas on how he would wreak true terror.

Stocks in New York sold off sharply Tuesday after the Treasury secretary unveiled his much-hyped plan. (The fact that he called it a financial stability plan is an oxymoron, italics intended.) In short, Geithner’s $1.5 trillion program aims to combat the financial crisis through a collaboration of public and private investments and a consumer and business lending initiative.