My he’s a busy lad. Tim Geithner spent some time today presenting in a broad way – does he ever get into details? – the shape of a new regulatory structure for finance in the US. The New York Times has the reaction here: Plan for Financial Oversight Draws a Mixed Response OK. It is […]

The infamous Geithner Plan is not sitting well with me. I hope it works, but something keeps gnawing away at me and prevents me from endorsing it. The problem is that even if the plan works we are still left looking at a financial system littered with undercapitalized banks. Geithner’s Plan doesn’t address this lack […]

Lost in all the huffing and puffing over the Geithner Plan and those bonuses is the simple but certain problem that the regulators faced back when AIG tottered towards failure: the US, unlike most other countries, has no legal framework for dealing with the public winding up of a non-bank financial company at the Federal […]