In an interview with RTT News, Dr. Lawrence White, Professor of Economics at NYU's Stern School discusses the federal bailout plan and how effective it will be, stressing "it's all in the price." White predicts it "will probably work" but says the real question is "at what cost to the tax payer?"
White gives his take on if the plan will limit future bank failures, fix the housing crisis and if it will be the last government bailout attempt.
White says, "never say never, but it will probably be the last bailout that we'll see." He says the plan is designed to get the "stinky assets" out of private hands into public hands and if "we're willing to take enough of them at some price, it can solve the problem."
To listen to the complete interview, visit:
http://www.rttnews.com/Audio2/2008/September/19/INTV-WHITE-GovntBailout-09.19.08-lbr.mp3
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