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Dear Hank: Here’s How to End the Credit Crisis at No Cost to Taxpayers
While it’s clear from the current credit crisis that our financial system is at a critical juncture, it’s just as clear that there’s no agreement over how we should fix the problems we face. The reality is that neither the plan put forth by U.S. Treasury Secretary Henry M. “Hank” Paulson Jr. – nor any of the addendums offered up by Congress or the lobbyists – will resolve this crisis.
The key culprits are the structured financial products that reside on the balance sheets of banks, dead investment banks, insurance companies, hedge funds and all manner of other duped and unsuspecting…
25Sep2008 | Money Morning | Comments Off | Continued
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