Reply #10: Hey Jake, are you referring to the plan Geithner announced today? Or the whole process so far.

[Aloha Spirit]

As a liberal, democrat, concerned citizen, I think the public private partnership is a pretty good strategy.
I don't think they would have announced it if they didn't think the auctions would have the result of generating
-sufficient private interest
-outflow of questionable assets from banks
-returns for the taxpayer
-capitalization for the banks.

And if it doesn't work the way they hope, it will at least bring to light, along with the "stress test" results which banks need to get nationalized as a plan B.

Your reasons for opposing today's plan, to me, sound more like opposition to the idea of a bank bailout period rather than his particular plan.

I don't see why we should assume that they won't have a clever way of building in prevention going forward, but I don't think that was dealt with today, and I also know that geithner and Obama and the rest of the team have may more plans beyond today's, as they have all, Geithner, Obama, Romer, Orszag, Summers, mentioned that there's more to come.