Will this hold, and will the enthusiasm continue. I suspect that there will be huge pot holes in the path.
Reuters: Detailed bank plan propels Wall Street higher
Reuters: Nobel laureate Krugman slams Geithner bailout plan
"But the fact is that financial executives literally bet their banks on the belief that there was no housing bubble, and the related belief that unprecedented levels of household debt were no problem. They lost that bet. And no amount of financial hocus-pocus -- for that is what the Geithner plan amounts to -- will change that fact..."
2 comments:
If Wall St. likes his plan , that makes me worry.
I would concur. It seems like the idea is to push the problems into the future and hope for another bubble. What else are they thinking.
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