Having tried without success to unlock frozen credit markets, the Treasury Department is considering taking ownership stakes in many United States banks to try to restore confidence in the financial system, according to government officials.
If this goes through, I want my own business card. Brad DeLong has more. Both TAL shows on the crisis (1,2 ) are handy if you want to catch up; I especially like the first one, with its emphasis on what kinds of individual decisions, on all levels, got us here.
And see? The ownership society works:
AIG considered buying advertisements to explain its position, only to be told by public relations consultant George Sard that it would be “a really bad idea.”
“To spend the taxpayer’s money on an expensive ad campaign to apologize for how you used taxpayer money leaves you open to further attacks,” Sard wrote in an e-mail to Ashooh.