eschatonblog.com - 3/21/2009
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Paulson kept proposing versions of this, but even he wasn't dumb enough. Sadly, Timmeh is.
The plan is likely to offer generous subsidies, in the form of low-interest loans, to coax investors to form partnerships with the government to buy toxic assets from banks. To help protect taxpayers, ...
washingtonmonthly.com - 3/21/2009
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washingtonmonthly.com —
'ZOMBIE IDEAS'.... We've been waiting for a while
to see the details of the Treasury Department's plan...
for dealing with the financial industry's toxic assets. The administration reportedly won't formally unveil the policy until Monday, but the New ...
(more)
'Zombie ideas'
washingtonmonthly.com - 3/27/2009
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washingtonmonthly.com —
THE PARTY OF NO (IDEAS).... About nine years
ago, then-Gov. George W. Bush was asked about his...
budget experience. Bush said he was proud of what he'd put together: "It's clearly a budget. It's got a lot of numbers in...
(more)
The Party of No (Ideas)
Comments
Blog Reactions
Department of Solving Problems Using the Same Thinking Used To Create Them
Open Left - Front Page —
... reaction from someone credible in economics is bonddad at DailyKos:
The central problem with this plan is the central problem with all plans dealing with the bad assets: will the banks be willing to sell and at what price? There is no guarantee anyone will be willing to sell or buy at a rate the market would like. I think this plan has an OK chance of working, but that is hardly a ringing endorsement.
Oh, almost forgot Duncan Black:
We are so screwed.
Yep, that about ...
I just saw the devil and he's smilin' at me
The Sideshow —
... seeing Brad Pitt in the mirror. This is a company that built a giant fortune across more than a century by betting on safety-conscious policyholders - people who wear seat belts and build houses on high ground - and then blew it all in a year or two by turning their entire balance sheet over to a guy who acted like making huge bets with other people's money would make his dick bigger." Taibbi also says we are screwed, which is pretty much what Krugman is saying and what Atrios is saying and, more succinctly, what John Cole is saying. Well, almost everyone ...
3/23: Geithner vs. The Netroots
Blogometer —
... called Geithner's plan "a Rube Goldberg device for shifting inevitable losses from the banks to the Treasury, preserving the big banks and their incumbent management in all their dysfunctional glory." Influential liberal blogger Atrios summed up the general sentiment in the liberal blogosphere when he declared: "We are so screwed." Conservative bloggers, meanwhile, don't really have a consensus position on Geithner's plan. ...
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