Another 6 List... IDK

Memo to Obama: Six reasons to cancel your $1 trillion toxic waste plan

Peter Cohan
Mar 22nd 2009 at 9:30AM


1. It's too small to buy enough of the toxic waste.
It would cost 13 trillion dollars.

2. It does not deal with the pricing problem.
Banks would be in the red instead of positive gain.

3. It's a government program for the already wealthy.
The companies incharge will be able to invest, but they would already have inside info.

4. Taxpayers are likely to lose money.
It is skewed to the wealthy who will invest.

5. Lack of detail could spook investors.
After Tim Geithner made his speech about it, the stock dropped over 300 points.

6. Money that could be lent directly will go into a black hole.
It will not get credit flow into the economy.