October 5, 2008
- A d v e r t i s e m e n t
In this horribly negative, whatever-can-go-wrong-will-go-wrong era, it is only natural to presume that the $700 billion Troubled Asset Relief Program legislation will do nothing.
But on the off chance anyone is listening, I think there’s a way to make the legislation do something (even though I don’t think it will send the stock market higher).
I think it could: 1.) Limit the Dow to a fall to 8,400, rather than one to 5,000, and 2.) Keep the coming depression — no, it won’t be a mere recession — shorter than the Great Depression.
With that low bar in mind, let me tell you what I would do if I were coordinating the package at Treasury — and I would take that job in a heartbeat. Here’s the order of things:
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