Forbes,"Geithner Does Little To Create Confidence: All his plan to save the banking system needs is details--fast".
UPDATE: David Malpass, NRO, in part:
• In his effort to sell the spending programs, President Obama has been highlighting the negatives in the U.S. outlook. The market’s default assumption is that conditions will get worse for quite a while. Geithner didn’t dispute this. I think the administration should attack head-on the Great Depression analogies and the claims that the U.S. is a bankrupt nation. It has to decide that it is planning for recovery, not a drawn-out nationwide debt-restructuring program. Otherwise, the downward momentum is self-fulfilling, causing needlessly high unemployment.
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