The Geithner plan, as viewed from Oz — Crooked Timber: "What does the Geithner plan mean for Australia? On the whole, it is probably a positive. The fact that it is a bad deal for US taxpayers is less important to us than the magnitude of the stimulus involved. And the decline of confidence in the US dollar, while not helpful to exporters competing with US suppliers, will probably make allow the Australian government, and Australian banks, to borrow on more favorable terms.
The biggest risk is that the failure of the plan could discredit the Obama Administration and produce a leadership vacuum. That would be a disaster for the entire world. The US led us into this mess, and, like it or not, the US must lead us out."
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