US bank rescue: Open letter to Geithner

Dear Tim You must have watched the UK’s bank rescue plan last month go down like a lead balloon. It was actually quite a good package. But Gordon Brown communicated the scheme so appallingly that it actually undermined confidence - both in Britain’s banks and in sterling. Investors concluded that the banks were about to be nationalised, a step which would weigh the government down with an unsupportable debt burden. A golden opportunity to give a boost to bank, investor and consumer confidence w...