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What the Treasury Plan Needs: Price Discovery, Writedowns and More

Some points in your article...

...TG was the Fed Governor at NYC so he is in mix of things from the start - one month in the job excuse doesn't cut it.;
...Obama made the mistake of picking TG if he didn't understand the current problems or have a solution to propose at his job interview;
...markets were disappoint on what he DIDN'T say as oppose to what he said as the expectation were built up by his boss - urgency, action, otherwise, etc. instead we got more time is needed and some vague framework which was already known.

Preview of the Bank Buy-In

Good or bad, US is playing catch up with Europe.

JPM probably don't want to take part since it claims to be the prudent banker.

Some form of control, similar to UK, is required for injection.

Countrywide: Dogs Howling Over Bare Bones

the rally is probably due to drop in oil, but when reality sets in it will be down hill again