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Geithner Plan A Bad Deal

Quicklink submitted By   Follow Me on Twitter     Message John Lorenz     Permalink
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There are 3 scenarios, none of the good:

1. The toxic assets attract only few bidders
2. Banks receive low bids,forcing weak banks to do further write downs.
3. Assets will be purchased but it will amount to risky US taxpayer subsidizing of failed banks and it is folly to bet our financial system on a flawed 'grand scheme'like this one.

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