Friday, April 3, 2009
Sachs Nails Geithner
Jeffrey Sachs (JS), a Columbia University professor, dissects Tim Geithner's bank bailout plan on 24 March 2009, link: http://voxeu.org/index.php?q=node/3339. It's another attempt to hide the costs of the bailout from the American public. I don't think JS intended his numerical example as an accurate estimate of the distribution of expected returns of these assets, but just to illustrate his point.