TRNN's Paul Jay speaks to Thomas Ferguson, professor of political science at the University of Massachusetts Boston on the Obama - Geithner plan. Speaking to what he would have done instead, Ferguson says, "I would have done it as Roosevelt did with the New Deal. You gotta make the banks write down the bad assets, and you gotta get the bad assets out of the banks, throw them into something owned by the people of the United States, and then try to sell them back." He says, "the simplest way of doing it is taking them over."
FYEIEIO, Part 1, here: