Geithner's Plan to resolve the banking problem is getting not so good reviews: Paul Krugman doesn't like it; Yves Smith doesn't like it; Calculated Risk doesn't like it; but Brad DeLong likes it - somewhat.
Are the banks insolvent or are they having a short term liquidity problem? It seems we need an answer to this question...
Geithner's Faustian bargain: - A guest post by Swedish Lex, this will get you in the right mental framework before reading the other opinions.
Geithner's Toxic Asset Plan: - Calculated Risk gives a very short description of the plan.
Despair over financial policy: - Paul Krugman - "It’s exactly the plan that was widely analyzed — and found wanting — a couple of weeks ago."...
More on the bank plan: - Paul Krugman - "Why was I so quick to condemn the Geithner plan? Because it’s not new; it’s just another version of an idea that keeps coming up and keeps being refuted. It’s basically a thinly disguised version of the same plan Henry Paulson announced way back in September."...
The Geithner Plan FAQ: - Brad DeLong answers some questions about the Geithner plan in this Q&A style post.
Brad DeLong's defense of Geithner: - Paul Krugman - "Brad gives it the old college try. But he shies away, I think, from the central issue: the non-recourse loans financing 85 percent of the purchases."...
Private Public Partnership Details Emerging: - Yves Smith at Naked Capitalism weighs in against the plan too.
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