Proposal
October 02, 2008 at 10:15 AM EDT
[Skip to the end] The short version of my current alternative proposal to the TARP remains: Normalize bank liquidity by allowing Fed member banks to borrow unsecured from the Fed in unlimited quantities. Have the Fed set term lending rates out to 3 months in addition to the Fed funds rate. Extend FDIC insurance to Fed deposits at member [...]
