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Critiques of the Geithner plan

A pessimistic, scathing critique of the Geithner plan by James K. Galbraith.

In some ways mimics Paul Krugman’s pessimism in the NYT .

Here are reservations along similar lines by John Quiggin.

HT AlterNet, an excellent site.

1 comment to Critiques of the Geithner plan

  • MikeM

    In The New Yorker this week James Surowiecki writes of the Geithner proposal:

    “One danger of this approach is that it may fail, forcing us to take over the banks after all. There’s another danger, though: that it will succeed. The U.S. financial system is fundamentally unhealthy, too big and volatile for anyone’s good. And right now there’s a great deal of pressure to meaningfully reform it. If Obama’s strategy works, though, and the banks squeak through reasonably intact, that reformist pressure may well dissipate. After all, previous bank meltdowns have produced plenty of rhetoric about the need for better regulation, without much action.”

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