Price Revelation is the Key to Making TARP II Work
by Catherine Mann | February 12th, 2009 | 09:40 amThe US Treasury and the Federal Reserve have been struggling for months now to craft a strategy that will revive the credit markets. The numbers are staggering: $350 billion extended under TARP; $1 trillion mooted by the Treasury Department this week. Yet the financial system is still swooning after Treasury Secretary Timothy Geithner’s speech on [...]