Geithner Plan Surfaces

The long wait for the Obama administration to act on the banking crisis ended Monday when Treasury Secretary Tim Geithner’s plan to solve the banking crisis surfaced. Geithner’s plan is a highly complex version of what then-Treasury Secretary Hank Paulson proposed (and then abandoned) last fall. And it comes just a week after the Federal Reserve acted in apparent frustration at the Obama administration’s inaction.

Geithner’s plan creates a.........