Dr. Peter Morici: US Treasury’s flawed plan for Citigroup and other Banks
Mar 2nd, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
US Treasury Secretary Timothy Geithner continues to destroy bank equity with a misguided TARP (Troubled Assets Recovery Program - - a $700 billion rescue plan for US banks, which was launched in early Oct 2008) and vaguely-defined Financial Stability Plan. He seeminglydoesn’t grasp, that he can’t stop a tub with a two inch drain from losing its water with a one inch stopper.