In this interview with The Daily Beast, economist and blogger Tyler Cowen says Timothy Geithner’s rumored bailout plan bears a disconcerting resemblance to the stimulus. The interview was done before the new Geithner plan was announced.
Here is one part:
It's a sort of finger in the dike approach with no clear vision, but maybe no one has a clear vision. And a finger in the dike is better than nothing. But it's not a great place to be.Here is the closing bit:
The fact they're talking about an itty-bitty plan suggests to me they think things are manageable so it makes me more optimistic. I hope that’s not just them trying to trick me. So you can take their response actually as somewhat of a sign that things aren't as bad as the worst doomsayers are claiming.Cowen now says
Today I am less optimistic about that.