If It Wasn’t My Money, I’d Be Laughing

You know you’re in trouble when they start making jokes about you. And right now, Treasury Secretary Tim Geithner is the butt of a lot of jokes.

The fundamental problem, of course, is that Geithner hasn’t come up with a financial rescue plan.  There is nearly unanimous agreement among economists and policymakers that the single most important thing the Secretary of the Treasury should do now is develop a plan to deal with the “toxic assets” that threaten the survival of financial institutions.  But Geithner, who has been acutely aware of this problem for months, doesn’t have such a plan.  If he had, the comedians wouldn’t be talking about 1-800-IDEAS.

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