Yet More Math On This Blog

I'm not the greatest at algebra but I do know enough about math that this is a rotten deal.

Note that the PPIP program:

Has the Treasury matches whatever a private investor puts up, then credits 6X as much capital. So if the Chinese are buying $2 billion, the US puts up $2 billion, and then the PPIP allows the purchase of $24 billion of distressed assets in the open market.

All for $2 billion dollars. Oh, and the FDIC would guarantee the debt being issued by the PPIP.

Thanks to Muffy.

Geithner Could be in Serious Trouble

Breaking From Rasmussen Reports:

Just 12% of Populists have a favorable opinion of Geithner, and only 11% say he’s doing a good or an excellent job.

Most Populists (53%) rate Geithner's performance as poor, but not a single Political Class survey respondent said the Treasury secretary is doing a poor job.

The findings are especially telling as calls increase for Geithner's resignation following the disclosure that American International Group (AIG) paid its executives $165 million in bonuses after receiving a $170-billion taxpayer bailout to stay in business. Geithner was aware of the bonuses and did little or nothing to stop them.

Overall, among all adults, 24% have a favorable opinion of Geithner, 44% have an unfavorable opinion, and 33% are not sure. Twenty-one percent (21%) of adults say Geithner is doing a good or an excellent job while 40% say he is doing a poor job.