In Case You Missed It
Just in case you haven't been paying attention, the dow is down 2212 points since the bailout was passed.
Did you also notice that Paulson has embraced a voluntary plan based on the Swedish model to recapitalize banks. Wasn't this what serious economist said the fed should have done rather than the bailout? What is funny is Paulson is using the bailout money to do this even though the plan doesn't explicitly say he can do this. Necessity demands improvision I guess. Too bad we wasted a week.
posted by polar donkey at 1:54 PM
1 Comments:
Apparently the bailout plan -- as enhanced by Barney Frank & friends -- does allow this. Frank is pretty adamant that this was the intention of the House amendements.
9:28 PM
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