Peter, Simon, and I wrote an op-ed for today’s Washington Post reviewing the latest version of the U.S. bailout (already serially discussed on this blog). Our verdict? Pretty good, perhaps not enough money, and the lack of government control over the banks only emphasizes the need for better regulation in the future.
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"A major and timely contribution to a national debate that will only get more heated in the years ahead."
—Mohamed A. El-Erian, CEO of PIMCO
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heard another discussion of mark to market today and it’s impact on banks balance sheets–should this be revisited and revised? Is it appropriate for banks or just brokerages? thanks