Without a cure for the problem of bad assets, the credit crisis that is dragging down the economy will linger, as banks cannot resume the ample lending needed to restart the wheels of commerce. The answer, say the economists and experts, is a larger, more direct government role than in the Treasury Department’s plan outlined this week. Full Story »
Posted by Terry Gamble
Yet another mediocre analysis implying the banking system will recover if only it had more taxpayer stimulus to spend. How about inquiring whether the banking industry should change its business model? whether we should allow bad banking to fail so that new models can emerge? Aren't we eager for a real enterprise story or analysis based on investigation rather than on interviews with the same one-note sources upholding a market based on credit rather than on sound fiscal principles?
Take a look at media unafraid to analyze more courageously than the NYT in links of this review.