Tim Geithner unveiled his new bank resuscitation machinery on Tuesday. He said it cost $2 trillion. Investors looked on…and saw the same old second-hand, worn-out rescue equipment the Bush team had used. The key tool is a pump that injects money into the banks, in the hope that if the bankers have a little more change lying around, they’ll be emboldened to lend it to someone.
The Economic Panic of 2009
Posted by StingingNettle 533 days ago (http://www.dailyreckoning.com)
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