- The plan is likely to offer generous subsidies, in the form of low-interest loans, to coax investors to form partnerships with the government to buy toxic assets from banks. To help protect taxpayers, who would pay for the bulk of the purchases, the plan calls for auctioning assets to the highest bidders.
As Dean says, if the reporting is accurate Timmeh is even dumber than I think he is.
Krugman has more. We are so screwed.