a while ago i questioned the bail out plan (at that time) proposed by paulson. why not inject capital into the banks directly?
in the UK Gordon brown has been having a pretty torrid time, politically. in his charisma-free fashion he constantly mumbles something about steering a course through the troubles, safe pair of hands, experience, vision, etc etc. all the time david cameron smiles and winks and watches his stock rise.
however, brown’s new rescue plan does inject capital into banks in the UK. Paul Krugman’s Op-ed piece today praises this and urges the US and Europe to follow suit. brown saves the world. go gordo, go.
