“We believe that the policy response has to be comprehensive and forceful,” Treasury Secretary Timothy Geithner said in his speech this morning on the state of the bailout. “Instead of catalyzing recovery, the financial system is working against recovery. And at the same time, the recession is putting greater pressure on banks. This is a dangerous dynamic, and we need to arrest it.” What are we going do to arrest it? Um, not quite clear on those details yet actually, but we’ll get back to you. We can say it will involve a lot of money. [WSJ]
