I don't know the answer to that one, but I don't think the NYT does either. So why is it telling readers that the decision not to directly inject capital into banks, instead of overpaying for bad assets, is a "legacy of the longstanding belief that governments should hold equity positions in companies only as a last resort."
--Dean Baker
If you enjoyed this article, please consider making a tax-deductible donation today. For over 30 years, The American Prospect has delivered independent reporting that exposes corporate power, investigates political corruption, and analyzes threats to our democracy. Unlike many media outlets, we’re not owned by billionaires or corporations—we’re powered by readers like you.
Today’s independent journalism faces unprecedented challenges. Your support makes our reporting possible and keeps our work free and accessible to all. Whether it’s $5 or $50, every contribution helps sustain our nonprofit newsroom.
Join our community of supporters and make a donation today to help keep independent journalism thriving.
