Another blow to republicans: Geithner receives praise
Looks like even Wall Street shills like Timmy can be redeemed if they do the right thing.
Must really disappoint the conservatives that we didn’t fall off that cliff. Oh well. The cons can just go back to hoping for another terror attack.
The criticism of his plan to stabilize the financial system came from all directions. House Republicans called it radical. Many liberal economists thought the plan was the product of hapless, zombie thinking and argued that only full bank nationalization would end the crisis. The Wall Street Journal asked 49 economists to grade Geithner. They gave him an F.
Well, the evidence of the past eight months suggests that Geithner was mostly right and his critics were mostly wrong. The financial sector is in much better shape than it was then. TARP money is being repaid, and the debate now is what to do with the billions that were never needed. It now seems clear that nationalization would have been an unnecessary mistake — potentially expensive and dangerously disruptive.
An earlier article on the same thing:
