bank rescue
Oh hey here is a novel idea: in order to save our tragically beleaguered financial system, we must 1) replace the management at failing banks and 2) liquidate the banks that are completely hosed beyond repair. This makes sense to pretty much everyone, and our new boyfriend Simon Johnson said something like that a while [...]
The Washington Post has an extraordinary article today about why Tim Geithner’s press conference to unveil the administration’s bank rescue plan last week seemed to… suck? Is that the word? Well it wasn’t the plan, so much — as best we understood this vague monstrosity, it was something like, “Public private money tax blah blah [...]
