In the Market for a Better Banking Plan
The administration’s plan is flawed, however, in that it would invest these powers in the Treasury rather than an independent agency less susceptible to political pressure. It also goes too far, formalizing the Treasury’s independent authority to make loan guarantees, asset purchases, and stock purchases to prevent a firm’s collapse. These are the very policies that have proved woefully inadequate up to this point. The power to force large insolvent ... Full Story »
Posted by Kaizar Campwala
