OK, let’s try this again. Since I last commented on the bailout, the Treasury Department has dumped $25 billion into Citi and promised about $300 billion more. I remember when $300 billion was real money. Treasury has now spent more than half of the TARP funds. Who knows how much worse off we’d be if … Continue reading Bailout 2.0 – What Am I Missing?
Congress has approved $700 million of bailout money. Henry Paulson keeps changing his mind about what he wants to do with it. He has focused almost entirely on institutional fixes. Maybe I’m missing something, but it seems to me that the financial system currently is leaking below the waterline. What we need to do is … Continue reading Bailing out the Bailout