Consistency Is Needed To Stabilize the Economy
Editorial, The Washington Post | January 23, 2009
Soon-to-be US Treasury Secretary Geithner has declared to the Senate that speed and force are necessary to deal with the financial crisis. ++ Meanwhile, Bank of America has faltered. ++ Plans to set up a "bad bank" are advancing in Washington, an institution that would buy up failing assets and free other banks from the burdens, with Geithner's approval. ++ This will be costly and may in any event fail to give the needed results. ++ As important as the specific tools chosen is ensuring that they are applied consistently.
