Friday, May 08, 2009

Betting On The Banksters

Really the wrong horse to pick.

May 8 (Bloomberg) -- Treasury Secretary Timothy Geithner is betting that U.S. banks can do something their Japanese counterparts were unable to accomplish in that country’s “lost decade” of the 1990s: earn their way out of trouble.

The econ-finance brain trust of this country spent years obsessing about the horrible Japanese mistakes. I guess, like Vietnam, those "lessons" weren't actually learned.