The Rollout of the Geithner Plan

Edward Luce and Krishna Guha write:>Toxic asset plan is biggest hurdle for Obama team: The Obama administration faces its biggest test today when Tim Geithner, US Treasury secretary, unveils a plan to take hundreds of billions of dollars of toxic assets off banks’ balance sheets. Today’s announcement, the success of which will help determine whether an increasingly besieged administration regains full credibility in its handling of the financial crisis, follows a weekend of frantic leaking, with both the Treasury and the White House denying being the sources….>Before the last launch… several contradictory versions of it had been put out in public. The final stretch before today’s announcement resembles a similar loss of message discipline across the Obama administration and among its partner agencies…And I still do not know what happened…


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