Paging Dr. Geithner – flatlined banks in the ER

The New York Times subtly displays the emperor’s invisibility-burdened “clothes” with his patch ’em up public-private partnership for buying bad bank assets, saying some of the nation’s largest banks are…

Like dead men walking.

Among those weighing in is the prescient Nouriel Roubini:

“The United States banking system is effectively insolvent.”

Simon Johnson says it could take $1 trillion to recapitalize America’s banking system.

Dr. Geither’s going to have to face the facts and recognize, to extend the analogy, he needs to do immediate cardiac or neurosurgery and stop acting like a first-year general practitioner.