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Chomsky Trashes Geithner Plan

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By Ben Cohen

I've been waiting to hear Noam Chomsky's take on the Geithner plan to bail out the banks, and I must say with some trepidation. Chomsky's insight into American political life is characteristically bleak, and unfortunately spot on 99% of the time. Chomsky's view of Geithner's plan is no different, and the MIT professor spells out why the bail out plan is essentially a giant giveaway to investors and the business classes, and does little to deal with the structural causes of the problem.

In a fascinating interview with Paul Jay of 'The Real News', Chomsky discusses the ins and outs of the bailout, and looks at some alternative, democratic solutions to the structural financial problems we face: