Geithner's plan

he’s not an excellent linguist but the scenario he proposes is worrisome…

FYI someone posted this on Friday. I couldn’t really find anything wrong with his logic.

I thought he made a good point about banks surreptitiously buying the toxic assets back. My only quibble was that he assume that they would buy them back at 100. I don’t see that happening at all. Changing the assumption to 80, per se, changes the rest of the analysis quite a bit.

We’re doomed!