"The problem with this approach is that it's needlessly expensive. " How can we justify spending billions more? Felix Salmon argues this will be a failure.
"The depth of public anger and the gravity of this crisis require that every policy we take be held to the most serious test: whether it gets our financial system back to the business of providing credit to working families and viable businesses, and helps prevent future crises. Does the plan as presented today pass this test? In a word, no. Sadly."
There is no systemic risk issue here. The government is giving your money away.
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