Despite
the passage of the economic stimulus bill, the recession will continue
to deepen until there is a detailed plan to fix the nation’s banking
system.
The plan recently unveiled by the Treasury has some
good elements. But execution and specifics, especially as related to
transparency, will be the key to protecting the economy from further
turmoil.
As we probably won’t see any positive impact until
mid-2010 and 2011, the plan is not the cure for our economic woes. In
order for it to work, we first must clear the banking system of toxic
debt. Only that will encourage credit to flow and corporate America to
start investing again.
Office of Communications and Marketing
Robinson College of Business
Atlanta, Georgia 30303
Tel: 404-413-7080; Fax: 404-413-7076; E-mail: Communications
