morgan-stanleys-roach-gives-paulson-plan-a-bminus

Morgan StanleyÆs Roach gives Paulson Plan a B-minus

ôI would have liked to have given it an A+,ö says Morgan Stanley AsiaÆs chairman, ôbut it deals with issues sub-optimally.ö
Stephen Roach, chairman of Morgan Stanley Asia, says the US governmentÆs Troubled Asset Recovery Plan Tarp, aka the Paulson Plan to bail-out the finance sector to the tune of $700 billion, deserves a grade of B-.

He spoke yesterday at the Hong Kong Investment Funds AssociationÆs annual conference, a get-together for executives in the local retail funds industry. Planned months in advance, his prepared speech was ditched in favour of a quick assessment of Tarp, announced on Sunday night in Washington, DCÆs timezone by Nancy Pelosi, the Democrat speaker of the House.

Editor this morning, Asia time, the US House of Representatives voted against the bailout package.

RoachÆs take a package needs to...
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