Geithner Plan: Rescue Deal or Waste of Resources?

In Financials on March 24, 2009 at 15:09

timothy_geithner_1Yesterday the Secretary of Treasury Timothy Geithner announced (for the second time!) the ‘Messiah Plan’, the one that will remove toxic assets from the banks’ balance sheets in order to start credit flowing again in the markets. The plan was more than ambraced by the Wall Street as the Dow Jones soared almost 500 points yesterday. Critics like Nobel Prize winner Paul Krugman, however, severely doubt its effectiveness as it assumes that banks “are fundamentally sound and their executives know what they are doing”. This is a rather pessimistic yet realistic point of view by a man who is an advocate of temporary nationalization of those banks. ‘Have A Say’ and give your opinion by either posting your comment  or emailing us at owt.newsaura@gmail.com if you want your story to make it to the front-page of our blog. Only time will prove who was right and who was wrong. To get a clean overview of the plan follow the link from WSJ: http://online.wsj.com/article/SB123776536222709061.html

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  1. do you think this will work?

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