Tuesday, March 31, 2009

Geithner's Plan Can Succeed in Stabilising Financial System

I am changing my tune. Geithner's plan can succeed. Before anyone collapses on the floor or starts screaming that I have lost my mind, it's important to define what success means and what the plan is.
What Success Is Not
1. Getting banks to lend.
2. Having a fair bidding process.
3. Arriving at a fair market value of bank assets.

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