fbpx The $700 Billion Question | Harvard Kennedy School

Authors:

  • Jeremy Stein

Excerpt

The $700 Billion Question. Jeremy Stein, September 23, 2008, Op-Ed. "Henry Paulson, the Treasury secretary, has opened the government checkbook and is poised to spend $700 billion to end the financial crisis. What comes next depends on the precise mission and operating powers he and Congress assign the new Treasury agency that will oversee the bailout. We see four broad possibilities. First, the agency could act as a deep-pocketed private investor that sees a bargain-buying opportunity - Warren Buffet on steroids. This strategy makes sense if one believes that the crises has caused the prices..." (May require user account or purchase) Link