Ever since Geithner unveiled his plan for the toxic assets almost 2 weeks now, many economists came out with their own view of the plan. Bankers and Wall Street seem to be very silent about the whole thing, simply because it is a plan that is much more investor-friendly than it is taxpayer-friendly. It seems like everyday, at least one article is written about the plan, bearing nothing but the same point: investors/banks are the winners, taxpayers are the losers. So here’s a special edition of the readings list for the day.
The Geithner Plan and The Taxpayers’ Curse (PDF), by H. Peyton Young (Brookings Inst.)
The Real Cost of The Geithner Plan, by Jed Graham (RGE Monitor)
Treasury’s Very Private Asset Fund, from The Wall Street Journal
Geithner’s Plan: Loopholes Galore, by Theo Francis and Mara Der Hovanesian
The Real Geithner Plan, A Nuclear Option, by Peter Boone and Simon Johnson (Real Time Economics, WSJ)
A Fix for Geithner’s Plan, by Lucian Bebchuk (WashPost)