Legal Commentary

If The Banks Are Fine, Why Do We Need The Geithner Plan?

By Big Tent Democrat

AP reported:

Government exams of the nation's biggest banks have helped lift a cloud of uncertainty that has hung over the economy. . . . "The publication of the stress tests simply cleared the air of uncertainty," said Allen Sinai, chief global economist at Decision Economics. "The results were not scary at all."

Happy to hear it. If that is the case, why in blazes do we need the Geithner Plan? It should be scrapped immediately and all government assistance, from TARP to government guarantees of bank debt should be scrapped as soon as possible, if not immediately.

Speaking for me only

Full post as published by TalkLeft on May 11, 2009 (boomark / email).