Change? Looks like same ol’ same ol’ to me.

Excellent but long post by Edward Harrison at Naked Capitalism.

This post describes what’s happening with the “Geithner Plan” for revised bailout of banks/ dealing with toxic assets in the context of an earlier bailout:  the Mexican currency crisis in 1994-95.  It”s many of the same folks involved:  Summers, Geithner, and a populist sentiment in Congress that the powers that be decided to go around.

Good read for both the current crisis and to review the Mexican currency crisis.