Krugman and Naked Capitalism go into great detail explaining why Geithner’s now fully-released public-private investor partnership, with the full stamp of approval from Obama, is ridiculous and, dare I say, criminal. Of course, if you’ve read some philosophy, you won’t be shocked by this, since you’ll most assuredly be familiar with Balzac’s well-known line that: “Behind every great fortune, lies a great crime.”

If you want to take the more optimistic route, I guess the only explanation for supporting this plan is that Obama is making a big bet on the “trickle down” economic theory. While playing lip service to social causes, Obama seems to really believe that awarding $1 trillion in free money to hedge funds will somehow trickle down and help the entire economy. I believe he said, “Main Street has to understand, unless we get these banks moving again, then we can’t get this economy to recover.”

So will the already disproven theory of trickle down economics magically regain effectiveness? I think we all know the answer to that question since we’ve seen this game before. Unless Main Street is planning on cashing in on some townhouses in Manhattan or selling some Picasso’s, it’s highly unlikely they will feel any benefit from this plan.