What happens when the money runs out?

New Statesman - Banks need the confidence of the public to survive and they have lost it for years to come. The danger is that if governments take on their role, they too will lose the trust of the people.

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An Inadequate Case for the Bailout

NY Times - Rather than rushing to approve the $700 billion bailout, lawmakers need to examine alternatives. They should look for one that ideally would let taxpayers share in the gains from any postbailout revival, along with the bankers and private investors who will make money if the bailout succeeds. Several ideas [...]

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Europe Looks for a Financial Crisis Plan

Spiegel - The European Union is divided about whether a bailout plan for European banks is needed. France allegedly proposed such an idea, but Germany isn’t biting. Meanwhile, more and more banks are parking their money at the European Central Bank.

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