Timothy Geithner’s plan to save the big banks will be a success. This success will come at a cost. The plan will hurt taxpayers, and it will lead to severe price inflation. It will not revive the faltering economy in 2009. It will not restore the housing market. Family wealth will continue to decline. I worry a bit about my assessment. It is shared by Keynesian economists Paul Krugman and James Galbraith. Still, I am sticking to my guns. Galbraith was unsparing in his criticisms. The Geithner plan gets toxic assets off the big banks’ books, but it does not … Continue reading Save the Big Banks, Trash the Dollar