More On The Geithner Plan
March 24, 2009
There’s a great back-and-forth on the bank bailout plan in the New York Times with Simon Johnson (MIT), Paul Krugman (Princeton), Brad DeLong (Berkeley), and Mark Thoma (Oregon).
For what it’s worth (not much), I’m becoming more and more persuaded by Krugman’s naysaying. Like a lot of things, I think this plan was at least as much a product of what the administration deemed politically feasible as it was what they felt to me the most efficient solution to the problem.
Anyway, if you want to know what this plan’s all about, this isn’t a bad place start.