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The Bailout: Terms of the Debate

By Adam Levitin

A quick couple of observations about the bailout debate: 1. No one is arguing about the method of doing the bailout. The idea of a individualized institution-by-institution bailout seems to be the only idea getting any traction even though it has huge transaction costs and lots of possibilities of conflicts of interest and self-dealing by financial institutions working as agents for the Treasury (see my wholesale bailout proposal through a series of public reverse Dutch auctions here). 2. read more

Full post as published by Credit Slips on September 23, 2008 (boomark / email).