Nobel Prize Winners Clash on Geithner Plan Prospects


	Nobel Prize Winners Clash on Geithner Plan Prospects

dl211

3-24-2009 11:52 AM

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tags:

geithner, economy

dl211 says:

I'm sure investors will be lining up to buy up these toxic loans, like buying garbage from a dump.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/6702873a-9545-428c-9b4e-6ddc17838d2a/3CC85384-737B-47C4-853A-55104E6EE6E3/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.bloomberg.com/apps/news?pid=20601087&sid=a44Iy1hEJIEs&refer=home" href="http://www.bloomberg.com/apps/news?pid=20601087&sid=a44Iy1hEJIEs&refer=home" style="font-size: 11px;">www.bloomberg.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601087&sid=a44Iy1hEJIEs&refer=home"><SPAN class="news_story_title">Nobel Prize Winners Clash on Geithner Plan Prospects (Update1) </SPAN></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601087&sid=a44Iy1hEJIEs&refer=home"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/www.bloomberg.com/img/13874E0F-D328-4492-A507-5C57623077AE" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601087&sid=a44Iy1hEJIEs&refer=home"><P>     March 24 (Bloomberg) -- Treasury Secretary <A href="http://search.bloomberg.com/search?q=Timothy+Geithner&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">Timothy Geithner</A>
has a good chance of succeeding with his plan to cleanse banks
of toxic assets, says A. <A href="http://search.bloomberg.com/search?q=Michael+Spence&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">Michael Spence</A>, co-winner of the 2001
Nobel Prize in economics. <A href="http://search.bloomberg.com/search?q=Paul+Krugman&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">Paul Krugman</A>, the newest laureate, is
so sure Geithner will fail that he’s full of “despair.”     </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601087&sid=a44Iy1hEJIEs&refer=home"><P>Even winners of the highest awards in economics can’t
always be right. Which prediction proves correct depends in part
on whether private investors can be enticed to bid on as much as
$1 trillion of illiquid loans and securities that banks are now
stuck with.     </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601087&sid=a44Iy1hEJIEs&refer=home"><P>“This program is crucially dependent on the private sector
as participants and price setters,” said Spence, 65, who shared
the Nobel Prize with <A href="http://search.bloomberg.com/search?q=George+Akerlof&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">George Akerlof</A> and <A href="http://search.bloomberg.com/search?q=Joseph+Stiglitz&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">Joseph Stiglitz</A> for a
theory that found some government intervention can make markets
more efficient. “It could work,” Spence said in a telephone
interview yesterday.     </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/3CC85384-737B-47C4-853A-55104E6EE6E3/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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