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No Substitute for the “P”-Word in Financial Rescue
Financial Rescue Substitute
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2015/9/18
Three months and three-hundred
billion dollars of bank rescue efforts
have gotten bogged down in a widespread and irrational fear among
policymakers: the fear of trying to
put a price on banks...
Auction Design Critical for Rescue Plan
Rescue Plan Design Critical
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2015/9/18
The Treasury proposes to invest
$700 billion in mortgage-related
securities to resolve the financial
crisis, using market mechato determine prices. A well-designed auction
process can indeed b...