americablog.com - 4/7/2009
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And yes, even lower than the already low expectations. One might ask how the Obama team could deliver such a potentially lucrative deal for Wall Street and a bad deal for taxpayers, but Summers history of making millions on Wall Street may provide some guidance. I voted for change and I wouldn't ...
huffingtonpost.com - 4/6/2009
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PPIP: Bad, Maybe, But Not THAT bad
Angry Bear —
Tom Bozzo I've been hearing about various potential schemes to game the PPIP, and Jeffrey Sachs gets in on the action with a pure self-dealing scenario (via Americablog): Here's how. Consider a toxic asset held by Citibank with a face value of $1 million, but with zero probability of any payout and therefore with a zero market value. An outside bidder would not pay anything for such an asset. All of the previous articles consider the case of true outside bidders. Suppose, however, that Citibank itself sets up a Citibank Public-Private Investment Fund (CPPIF) under the Geithner-Summers plan. The CPPIF will bid the full face value of $1 ...
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The United Front of Geithner and Summers
washingtonpost.com 3/2/2009 — Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. ...
The Geithner Plan
balloon-juice.com 3/21/2009 — The reviews are in on the leaked Geithner plan , and we are going to do something different here for a change. We are not going to listen to people who have been wrong about everything, and instead are going to listen to people who have been more ...
Geithner Did It
andrewsullivan.theatlantic.com 3/21/2009 — Now he tells us? Sharp intake of breath : Treasury Secretary Timothy Geithner told CNN Thursday his department
asked Sen. Chris Dodd to include a loophole in the stimulus bill that
allowed bailed-out insurance giant American International Group to ...
The Geithner Plan: Take 1
obsidianwings.blogs.com 3/22/2009 — by hilzoy Some negative reactions to the Geithner plan : Krugman , more Krugman , Calculated Risk , Yves Smith , James K. Galbraith , Henry Blodget , Noam Scheiber . Brad DeLong, on the other hand, likes it , and whether you agree with him or not, ...
What Did Geithner Not Know And When Did He Not Know It?
justoneminute.typepad.com 3/18/2009 — From the WSJ live-blog of Liddy's House appearance comes this nugget: 1:47: Rep. Scott Garrett (R., N.J.) asks more about the timeline. Liddy said that talking last week to Tim Geithner, the Treasury secretary, Geithner indicated he learned about the...
Worse Than Expected on the Economy
tpmcafe.talkingpointsmemo.com 2/27/2009 — Keep your eyes on the gap between what the economy could produce at full employment and the paltry level of aggregate demand (consumers plus businesses plus exports). That's why the stimulus is too small -- and why my bet is the President will be back ...
The Geithner Plan, Part 2
obsidianwings.blogs.com 3/23/2009 — by hilzoy In my last post I argued that the auctions Sec. Geithner is ( by all accounts ) about to propose as part of his plan to solve the problems with the banking industry might not work at all; that if they did work, they would do so by giving ...
Sanford kicks stimulus can down the road —
CNN Political Ticker 4/6/2009
South Carolina Gov. Mark Sanford complied with a deadline late last week that preserves his state's ability to seek $700 million in federal money once Sanford and the state legislature reach an agreement on the budget.
(CNN) - South Carolina ...
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