“Timothy Geithner, President Obama’s pick to head the Treasury Department, said Wednesday that the administration is considering setting up a ‘bad bank’ to purchase toxic loans from troubled banks in a new program that could cost taxpayers $3 trillion to $4 trillion.” (Washington Post, Thursday)
We already have a bad bank.
FEE Timely Classic
“Central Banks, Gold, and the Decline of the Dollar” by Robert Batemarco
