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September 21, 2008
Links to Baker, Krugman and Delong on the Treasury Plan to Buy 700 Billion in bad debt
So Washington is considering a $700 billion plan to buy up bad debt. What follows are links to comments by Dean Baker, Paul Krugman and Brad Delong on the various aspects of the plan be considered.
Dean Baker on the progressive conditions that should govern a bailout for Wall Street.
Paul Krugman expresses some doubt whether the plan to buy up bad debt will really rescue credit markets.
Brad Delong worries about the amount of authority vested in the Treasury Secretary under the current bailout plan.
From the department of the outrageous: one suggested modification to the Treasury plan is to limit executive compensation at the companies participating in the bailout. The Treasury secretary calls these measures a poison pill. It is outrageous to think a financial executive who needs a government bailout should get a golden parachute.
Posted by Price at September 21, 2008 08:44 AM