A roundup of some react to Geithner's bank plan

With precious few exceptions, no one believes what Treasury Secretary Timothy Geithner has proposed to do with the "toxic assets" drowning American banks in red ink will work. Too much reliance on private investors, not enough incentive to get them involved, and fear on the part of these investors that the government will dictate compensation levels as well as bonus policy. With that in mind, here are a few links so you can make up your own mind.Brad DeLong has a very helpful FAQ on the plan.Paul Krugman is still against it.This is more than disappointing. In fact, it fills me with a sense of despair. After all, we’ve just been through the firestorm over the A.I.G. bonuses, during which administration officials claimed that they knew nothing, couldn’t do anything, and anyway it was someone else’s fault. Meanwhile, the administration has failed to quell the public’s doubts about what banks are doing with taxpayer money.And now Mr. Obama has...(Read Full Post)

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