>> “There’s been an incredible buildup for weeks and then they release a plan that has little in the way of details.”
Geithner doesn’t know what to do. He doesn’t know, any more than Paulson did, how to “fix” the problem.
That’s because “fix” is defined as “magically wipe away the problem”. The only real fix is to let the disease run its course and the markets find the way back. But that’s tough medicine to swallow, and not acceptable to the powers that be (Dem OR Pub).
Yet the pressure is enormous — not only to “do the right thing” but to “fix it NOW”.
Geithner is screwed. So is Bambi.
“That’s because “fix” is defined as “magically wipe away the problem”. The only real fix is to let the disease run its course and the markets find the way back. But that’s tough medicine to swallow, and not acceptable to the powers that be (Dem OR Pub).”
Bingo. And the markets will continue to speak tomes in the weeks to come.