Calculated Risk has inkling of the possible Bad Bank plan.
I have been back and forth on the Bad Bank idea, and I really hope it works but I am very worried about a give away. At $4 trillion price tag, nationalization sounds more feasible. Obviously, the numbers are going to be politically difficult.
I am somewhat comforted by the fact that Geitner has probably looked at this little manual from Roubini and Setser.
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