The Geithner plan

Megan McArdle writes:

Tim Geithner reveals that the Treasury has a plan to fix the problems in our broken capital markets by . . . er . . . fixing them.

Paul Krugman writes:

An old joke from my younger days: What do you get when you cross a
Godfather with a deconstructionist? Someone who makes you an offer you
can’t understand.

I found myself remembering that joke when trying to make sense of the Geithner financial rescue plan.
It’s really not clear what the plan means; there’s an interpretation
that makes it not too bad, but it’s not clear if that’s the right

Here is Brad DeLong on same.  Get the picture?


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