Or How I Learned to Stop Worrying

Nobel Prize-winning economist Joseph Stiglitz does not like the Geithner plan:
“The Geithner plan is very badly flawed,” Stiglitz told Reuters in an interview during a Credit Suisse Asian Investment Conference in Hong Kong.
U.S. Treasury Secretary Timothy Geithner’s plan to wipe up to US$1 trillion in bad debt off banks’ balance sheets, unveiled on Monday, offered “perverse [...]

After the Treasury Department released the refurbished plan to buy up “legacy assets” (formerly known by the less tasteful moniker “toxic assets”) Wall Street responded with two thumbs up. Treasury Secretary Tim Geithner has gone from goat to hero in one day:
But the stock market’s first-day verdict went in the right direction for Mr. Geithner [...]

The United States government is colluding with the banks to rob the taxpayer. That, in a nutshell, is the newly shaped Tim Geithner bank rescue plan. That, in a nutshell, was the Hank Paulson bank rescue plan that has already stolen $350 billion of taxpayer funds, plus over $175 billion in funds directly to AIG, and [...]

Treasury Secretary Tim Geithner announced the Obama administration’s financial rescue plan yesterday. The Administration calls this the “Financial Stability Plan.” The “Plan” has Paul Krugman confused. Krugman refers to it as “The Rorschach Plan.” Krugman says “It’s really not clear what the plan means; there’s an interpretation that makes it not too bad, but [...]