The Treasury plan is a disgrace: a bailout of reckless bankers, lenders and investors that provides little direct debt relief to borrowers and financially stressed households and that will come at a very high cost to the US taxpayer. And the plan does nothing to resolve the severe stress in money markets and interbank markets that are now close to a systemic meltdown.

"RGE Conference Call on the Economic and Financial Outlook... and why the Treasury TARP bailout is flawed," RGE Monitor (2008-09-26)