The Geithner-Summers-Bernanke Plan to Prop Up Asset Prices Has Failed

Paul Krugman wrote a couple of weeks ago that top officials in the Obama administration and at the Federal Reserve have convinced themselves that troubled assets, often referred to these days as “toxic waste,” are really worth much more than anyone is actually willing to pay for them — and that if these assets were properly priced, all our troubles would go away.

The truth is that the Bernanke-Geithner plan — the plan the administration keeps floating, in slightly different versions — isn’t going to fly ....

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US Intel Confirms Iran Not Developing Nukes

Dennis Blair told the Senate Intelligence Committee that his organization has assessed that Tehran does not have nuclear weapons design and weaponization work. A National Intelligence Estimate (NIE), issued in November 2007 by the sixteen US intelligence agencies, clarified that Iran was not pursuing a nuclear weapons program. The 2007 intelligence report was widely seen as a setback for Bush administration efforts to pressure Iran and halt its nuclear program.

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Compare this with the report by Obama nominee CIA director Panetta who claims they are developing nukes and watch the main stream media climb aboard with Panetta and totally disregard any mention of Blair's testimony and the Intel report.