Feb. 17th, 2009

litch: (Default)
Interesting article on wapo about Geitner's limptastic presentation of his plan to rescue the banks.

According to the article he decided the plan he'd been putting together for weeks was suckful and scratched it and had a press conference scheduled and nothing to present.

I am moderately heartened by this, the reports of what he was planning were essentially a massive bailout of bank shareholders and the new one could be not complete shit (depending on the details). More than that, it takes real guts & insight to pull the plug on your plan when you realize it isn't going to work, especially when the future of the free world hinges on your actions. Seeing something through to the end has wasted a lot of lives, money, and time when the end isn't really that great or the something won't actually get you there.

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litch

May 2009

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