Trillion Dollar Baby

By MAUREEN DOWD
NYT

WASHINGTON

So much for the savior-based economy.

Tim Geithner, the learned and laconic civil servant and financial engineer, did not sweep in and infuse our shaky psyches with confidence. For starters, the 47-year-old’s voice kept cracking.

Escorting us over the rickety, foggy bridge from TARP to Son of TARP by way of TALF — don’t ask — Geithner did not, as the president said when he drew on the wisdom of Fred Astaire, inspire us to pick ourselves up, dust ourselves off and start all over again.

The Obama crowd is hung up on the same issues that the Bush crew was hung up on last September: Which of the potentially $2 or $3 trillion in toxic assets will the taxpayers buy and what will we pay for them?

Despite the touting, the Treasury chief unveiled a plan short on illumination, recrimination, fine points and foreclosure closure. The Dow collapsed on its fainting couch as Sports Illustrated swimsuit models rang the closing bell.

(More here.)