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On PPIP and Geithners Amazing Power Grab

Well, were do we start?

On the subjects of the toxic-assets plan/public-private investment partnership ("PPIP") and Treasury Secretary Tim Geithner's latest power grab, it's difficult to organize my thoughts and decide where to begin. There is almost too much information to absorb here.

Trying to catch up with all the latest news on not only the government's toxic-assets plan, but Geithner's proposal for sweeping regulatory changes over the financial industry, may seem like an overwhelming task.

Thankfully, there are a few people out there (bloggers, journalists) who seem up to the task of covering these events. I've organized a collection of some of the best articles and blog posts that I have found on these interrelated subjects. Select and read as you like.

Before we begin, I will say one thing about the ongoing financial crisis and government's response to it: the officials (many of whom are unelected) at the helm have, rather predictably, decided to increase regulation and consolidate their power in response to a crisis that, in many respects, they helped create. Now, on with the show:

1. "Geithner proposes vast expansion of US oversight of financial system" - Washington Post.

2. "Geithner proposes to reinvent how the financial world is regulated" - US News & World Report.

3. "Geithner to seek power over hedge funds, derivatives" - Bloomberg.

4. "Geithner 'power grab' could worry creditors" - FT.com.

5. "Geithner testifies about new market rules (video)" - Bloomberg.

6. "Roubini says Geithner plan won't prevent bank nationalizations (w/ video)" - Bloomberg.

7. "Geithner's desperate power grab" - Economics Junkie.

8. "Geithner calls for power to blackmail companies" - Rossputin.com.

9. "Willem Buiter on toxic-assets plan/PPIP" - FT.com.

10. "It looks like Citi and Bank of America are already gaming the system" - Clusterstock.

11. "Geithner's five big misconceptions" - Business Insider.

12. "Ignoring the Austrians got us into this mess" - Barron's.

If you found this reading list useful, feel free to bookmark this post to your favorite social bookmarking site (Facebook, Delicious, StumbleUpon), or forward it to your friends and colleagues with the help of our "email post" button found in the post footer.

For more insight into the causes of the financial crisis and the build up towards increased regulation of the financial industry, read on at the related articles and posts below.

Related articles and posts:

1. The Fed leviathan grows - Finance Trends.

2. Hedge funds: regulations and redemptions - Finance Trends.

3. Jim Rogers: Geithner clueless (Bloomberg TV) - Finance Trends.

4. Jim Rogers doesn't mince words about crisis - BusinessWeek.

5. Adding up all government interventions - NicolasRapp.com.

 

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