It's kind of refreshing that Treasury Secretary Tim Geithner scrapped his first bank bailout plan and was willing to start from square one so late in the game. Better to suffer a bit of embarrassment now, then dig a deeper hole later.
I'd rather they realize the plan should be changed rather than using the George Bush method of charging on though failure is obvious and apparent. Yes, the roll-out was clumsy, at least they didn't throw hundreds of billions down a dry hole before they realized they fucked up.
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