Bank On It No More

By Robert Borosage

Created 02/04/2009 - 9:51am

What will the Obama administration do with the banks that are now on life support? Pump in more taxpayers' money to keep the zombies alive? Radical surgery? Pull the plug? The decision - with new announcements rumored for next week — is critical to any recovery plan.

We're not really invited to this discussion. This is the province of experts, of bankers and financiers. Even economists who opine about most everything don't understand finance. But, we better bust into it because literally trillions of taxpayer dollars are at stake. And we've all learned that a lot more gets stolen with a fountain pen than with a gun.