Mr. Geithner's Private Gamble.

The author comments on the plan of U.S. Treasury Secretary Timothy Geithner to establish private-public partnerships to buy troubled bank assets. He argues that the notion of an aggregator bank may be hard to promote if investors are expected to take minority equity stakes in an entity they can not control. He also mentions the importance of the shadow banking system for credit creation. The author also discusses some problems associated with the economic recovery plan.