The Plan |
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The Treasury acted swiftly, and Paulson’s plan has been unveiled and sent to Congress over the weekend. Paulson’s plan is beautifully simple and clear in its core structure and goals, reassuringly ambitious in scope, and claims an extremely high degree of discretion in the implementation—a sort of carte blanche that would allow the Treasury to deal flexibly with the devilish complexities ahead. The proposed plan envisions an unprecedented intervention by the government into the economy: the
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