The Geithner-Summers plan, officially called the public/private investment programme, is a thinly veiled attempt to transfer up to hundreds of billions of dollars of US taxpayer funds to the commercial banks, by buying toxic assets from the banks at far above their market value. It is dressed up as a market transaction but that is a fig-leaf, since the government will put in 90 per cent or more of the funds and the “price discovery” process is not genuine. It is no surprise that stock market capitalisation of the banks has risen about 50 per cent from the lows of two weeks ago. Taxpayers are the losers, even as they stand on the sidelines cheering the rise of the stock market. It is their money fuelling the rally, yet the banks are the beneficiaries.
官方稱為公/私投資計(jì)劃的蓋特納-薩默斯(Geithner-Summers)計(jì)劃，通過以遠(yuǎn)高于市價(jià)的價(jià)格從商業(yè)銀行手中購買問題資產(chǎn)，暗藏著把多達(dá)數(shù)千億美元的納稅人資金向這些銀行轉(zhuǎn)移的企圖。該計(jì)劃以市場交易的方式進(jìn)行，但這只是一個幌子，因?yàn)檎畬⑼度?0%或更多的資金，而且“價(jià)格發(fā)現(xiàn)”過程并不真實(shí)。毫不奇怪，這些銀行的股票市值較兩周前的低點(diǎn)上漲了約50%。正當(dāng)納稅人站在一旁為股市的上漲而歡呼的時(shí)候，他們已成為了輸家。正是他們的資金引發(fā)了股市的反彈，然而銀行才是受益者。