Is the Geithner Plan Illegal?

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In recent months, Treasury Secretary Timothy Geithner and other regulatory officials have made much ado about those "toxic" securities the Wall Street demons concocted by bundling together thousands of mortgages and dicing them up a dozen different ways to sell to investors. The big problem, as we've all learned by now, is that it's next to impossible to figure out what the accursed things are worth...

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Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

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