Thursday, October 09, 2008

The Atlantic Asks About the Bailout: Will It Work?

Will It Work? - The Current:
"But we may not know immediately, since the devil is in the details -- and not just in the legislative details. The Treasury Department must still issue guidelines on how it's going to buy up the troubled mortgage-related and other asset-backed securities covered by the bill. Those guidelines may very well determine how eager the intended participants -- banks, insurance companies, pension plans, and so on -- will be to sell to the Treasury. In addition, the bill's well-intentioned provisions limiting executive compensation and giving the government an equity stake in firms that sell the securities may also discourage some of those firms from showing up at the bailout party -- to what extent, we simply won't know. And it may even be some time after the election before we really have a good idea about participation, because the Treasury's purchasing guidelines might change when the new Administration takes office."

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