Wednesday, October 15, 2008

Paulson Guarantees Interbank Lending

Treasury Secretary Hank Paulson noted his latest round of interventions includes federal guarantees on new interbank lending for thirty days. CNBC's commenters seemed unaware of this feature. The Financial Times highlighted Paulson's generosity to American banks and their shareholders, at least relative to the British plan. What gifts will Hank bear next? Stay tuned.