Insanity: Doing the Same Thing Over and Over and Expecting Different Results 
"Paul Krugman describes the toxic asset purchase plan as `cash for trash.' Jeffrey Sach calls it a `thinly veiled attempt to transfer hundreds of billions of U.S. taxpayer funds to the commercial banks.' Robert Reich depicts Tim Geithner, Treasury Secretary, as a prisoner of Wall Street while Joe Stiglitz says the plan `amounts to the robbery of the American people.'
"Democrat economists accuse Mr. Obama along with Mr. Geithner, and Lawrence Summers, the president's senior economic adviser, of taking dictation from the same financiers who have brought the economy to the brink of depression."
Herbert J. Gans, professor emeritus of Sociology at Columbia University, on March 29 was published on the New York Times editorial page:
Kathryn Fitzgerald of Toronto was published March 24 in the New York Times Letters to the Editors:
"Your March 24 (`The Bank Rescue') editorial 'Rescue Plan, with Fine Print, Dazzles Wall St.' says it all. Wall St. caused the global financial meltdown and refuses to be held accountable for its mistakes, misdeeds and greed.
"Wall St. is now dazzled by Treasury Secretary Timothy F. Geithner's latest rescue plan suggestions that those of us on Main Street are getting a raw deal: corrupt and incompetent bankers receiving yet another windfall at taxpayers expense."
It is past time to do what should have been done long ago and nationalize the federal reserve.
Paul Schoenbaum of Williamsburg, VA on March 24 wrote this letter to the New York Times:
"You are correct on the approach that you advocate for insolvent banks. You say 'There is no getting around firing the executives and failing banks, acknowledging the losses, wiping out shareholders and then deciding how the government can best restructure the institutions.'
"What is needed is a surgical approach, rather than a series of band-aids to cleanse the banking system so the economy can be jump started sooner rather than much later if at all under the questionable plan offered by Treasury Secretary Timothy F. Geithner."
The plain truth revealed in these letters is what we do not need is more of the same, yet this is what is happening as under Obama's plan toxic assets are purchased by taxpayers while those who have failed in the past have had their risky failures underwritten.
It is indeed irrational to let the same bank bandits do the same thing over and over and expect different results.
KEYWORDS: Wall Street Bailout, Robert Reich, Joe Stiglitz, Lawrence Summers, Timothy Geithner
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