Information Landmine

"The Americans keep telling us how successful their system is. Then they remind us not to stray too far from our hotel at night." - An un-named EU trade representative quoted during international trade talks in Denver, Colorado, 1997.

Thursday, September 25, 2008

Plan to save... who?

So apparently they've reached a deal. I can't find anyone saying much about what's in it, but for what it's worth, the things I most hope made their way in was Chris Dodd's idea about government getting a right to an equity stake of the assets turned out to be junk, and some sort of general provision to help home-owners directly. Matt Yglesias expalins what that might look (have looked?) like here.

Failing that, some sort of phased process, where the treasury gets the money in installments, also seemed like a good idea.

What they are mentioning, which is restrictions on bonuses and congressional oversight, strike me as side issues.

Update: Silly me - the FT tells me that none of those things actually have been agreed on yet:

But legislators had yet to agree with the Treasury the details for a number of issues, including whether the $700bn sought by the administration would be disbursed in a single tranche or over time; the circumstances under which the government would take equity stakes in participating banks; and help for homeowners.


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