Real concerns about Treasury’s plans to deal with toxic/misunderstood bank assets

21 03 2009

Krugman:

This plan will produce big gains for banks that didn’t actually need any help; it will, however, do little to reassure the public about banks that are seriously undercapitalized. And I fear that when the plan fails, as it almost surely will, the administration will have shot its bolt: it won’t be able to come back to Congress for a plan that might actually work.

Read it all here, here and here.

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