What An Economist Hears : Planet Money A take on U.S. Treasury Secretary Tim Geithner's interview with Planet Money.
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What An Economist Hears

People are debating whether Treasury Secretary Tim Geithner delivered fluff or substance in yesterday's interview with Adam Davidson. Simon Johnson, former chief economist of the IMF and a Planet Money regular, heard this:

The bottom line is that the government will support the credit system a great deal and in many innovative ways, but Treasury will try really hard to avoid FDIC-type takeovers/reprivatizations of large banks. This is quite striking, and presumably the hope is that a big "no nationalization" rally in the price of banks' common equity will turn the tide more generally.