Timothy Geithner has announced his bank rescue plan, which seems to amount to the government buying horrible assets from banks at grossly inflated prices. Over at the Times, they have several prominent economists, including Krugman, on whether the plan will work (verdict: it depends, but probably not so much). The stock market is sure excited about it though.Just be prepared, your tax dollars will be paying for other people's mistakes, which sort of sounds like a nice, pithy condensation of conservative complaints about big government. That said, if it works, it will save us money in the long run-though studies show that people are willing to take a financial hit to punish people they feel are benefiting unfairly. Maybe they're interested in a longer recession to show some investment bankers who's boss?Image via.
Search
Latest Stories
Start your day right!
Get latest updates and insights delivered to your inbox.
We have a small favor to ask of you
Facebook is critical to our success and we could use your help. It will only take a few clicks on your device. But it would mean the world to us.
Here’s the link . Once there, hit the Follow button. Hit the Follow button again and choose Favorites. That’s it!
The Latest
Most Popular
Sign Up for
The Daily GOOD!
Get our free newsletter delivered to your inbox