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Guest Post: The new bailouts are an end-run around Congress 
naked capitalism | by Edward Harrison(edh@creditwritedowns.com) | Fri, Mar 27
naked capitalism is the #2 Blogger for United States Department of the Treasury
As it became obvious that cooperation from Congress wouldn't be forthcoming, Rubin and Summers began to consider plan B. Back in 1934, Congress had given Treasury a pool of money called the "Exchange Stabilization Fund" (or ESF) to help smooth out exchange rates. Sixty years later, the fu...
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Opinion: Willem Buiter: Treasury Will Have to Abandon Current Approach to Banks
There is just one way to make the US government’s policy towards the banks work. That is for the Congress to vote another $1.5 trillion worth of additional TARP money for the banks - $1 trillion to buy the remaining toxic assets off their balance sheets, and $0.5 trillion worth of additional ca...
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