http://www.crikey.com.au/2009/03/24/geithner-saving-banks-and-bankers-from-themselves/ now with extra source Sun, 12 Feb 2012 02:48:10 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.crikey.com.au/2009/03/24/geithner-saving-banks-and-bankers-from-themselves/#comment-2672 Paul Krugman Thu, 01 Jan 1970 10:00:00 +0000 #comment-2672 But the Geithner scheme would offer a one-way bet: if asset values go up, the investors profit, but if they go down, the investors can walk away from their debt. So this isn’t really about letting markets work. It’s just an indirect, disguised way to subsidize purchases of bad assets.<br /><br /> But the Geithner scheme would offer a one-way bet: if asset values go up, the investors profit, but if they go down, the investors can walk away from their debt. So this isn’t really about letting markets work. It’s just an indirect, disguised way to subsidize purchases of bad assets.

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