When Tim Geithner still has no details – and won’t for the near future – on his bank assistance/bailout proposal scheduled to be released tomorrow, you have to saw:
Wait – didn’t Paulson pull this same “trust us” shit?
Other questions.
Yes, getting private sector entities to invest more in banks now is a nice idea; BUT:
1. Since credit’s been tight for months as is, what about TARP 2.0 is changing that scenario?
2. Why would banks sell bad assets to other private agencies at pennies on the dollar if they think they can still get a better price from the government?
3. Will this be more transparent, on both government and private sides, than TARP 1.0?
Answers? Nothing for now, nothing for now, and don’t count on it.
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