Jim Jubak: Obama's Treasury Plan may work; a good plan

[TWiley]

Treasury may save the day after all
Tim Geithner has taken plenty of heat since sketching out a vague proposal for fixing the financial crisis, but a closer look reveals a good plan.


By Jim Jubak
MSN Money
They're dead wrong.

You've read them. Treasury Secretary Tim Geithner's plan to end the financial crisis is a disaster. The Obama administration has even less grasp of the issues than the Bush team.

You've seen them on TV. The Geithner plan is folly. The administration is in meltdown.

And, of course, Wall Street has weighed in, first with a 382-point drop in the Dow Jones Industrial Average ($INDU) that began even as Geithner was still reading from his teleprompter and second with an orgy of finger-pointing. If only the plan had more details, more originality, more money for Wall Street.

Sorry. But the doomsayers, the nattering nabobs of negativism and the self-interested Wall Street experts are all wrong. The plan isn't perfect. It does represent a last-minute change in direction, and essential details are still to be announced. The presentation could have been better. (Who's Geithner's media coach? Lurch? Keanu Reeves?) And the administration should have done a better job of lowering expectations.

A decent plan

Despite almost everything you've read or heard, the Geithner plan stands a good chance of working. It tackles, head on, the three big problems that anyone trying to end this financial crisis must face.

Full Story Here:

http://articles.moneycentral.msn.com/Investing/JubaksJournal/treasury-may-save-the-day-after-all.aspx

[madrchsod]

1. nooooo.....he`s wrong!

we have to have "doom and gloom" 24 hrs a day seven days a week! there`s nothing better than panic to finish "the plan" the republicans have put in place since the mid 70`s....

remember, the only thing we have to fear is optimism.....

[Winterblues]

2. I certainly hope so..

The people need some relief that is geared at them and not some form of "trickle down". What I have witnessed so far with the TARP is nothing but "trickle down" and the odds are very great it won't trickle a bit. We desperately need a bottom up effort before it is too late.

[TWiley]

3. This is actually pretty significant

Jim Jubak has long been predicting the collapse and disaster we are experiencing right now. It is significant that one of the greatest (legitimate)critics has half-assedly endorsed Mr. Obama's plan.

[spanone]

4. k and fucking r