Reaction to Geithner's Toxic-Asset Plan
Now that Treasury Secretary Tim Geithner's $1 trillion plan to buy toxic assets off the books of banks has been out there for a few hours and has begun to be digested, here are some reactions to it:
-- Noted economist James Galbraith (son of James Kenneth) called the plan "extremely dangerous" in an interview this morning with Henry Blodget, a stock blogger (and former trader who paid $2 million to settle, without admission of wrongdoing, a securities fraud charge by the SEC). Blodget lists what he calls the misconceptions and facts of the plan.
-- In Forbes, Joshua Zumbrum lays out the possible winners and losers in the plan.
-- Finally, you can read about the plan here in Geithner's own words, in an opinion piece in today's Wall Street Journal.
March 23, 2009; 1:41 PM ET
Categories: The Ticker | Tags: Henry Blodget, Paul Krugman, Tim Geithner, bailout, toxic assets
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