THE BLOG
04/30/2009 05:12 am ET | Updated May 25, 2011

Obama Should Save the Banks, Not the Bankers

Tom Ferguson: Stimulus package is dangerously small; plan for toxic assets shovels money to bankers.
Thomas Ferguson is a political scientist and author who studies and writes on politics and economics, often within an historical perspective. He is a Political Science professor at the University of Massachusetts Boston. He is also a a contributing editor of The Nation. He is also the author of several books, the recent of which is Golden Rule: The Investment Theory of Party Competition and the Logic of Money-Driven Political System

The Real News Network's Paul Jay sits down with Prof. Thomas Ferguson to discuss the latest government plans to help banks rid themselves of their troubled assets. Calling the economic situation simply "bad", Prof. Ferguson insists that the size of the stimulus is not capable of addressing the range of pressing issues that is facing the U.S. economy. With the unemployment rate nearing the 10 percent mark and the world economy continuing its downward momentum, Prof. Ferguson says that the size of the stimulus should have been at least 1.2 trillion dollars, if not more.

Part 2 and 3 of this interview are posted on The Real News website. For further interviews or to contact Paul Jay, visit The Real News website.