Like the acronym for the Geithner and Summers Plan — GASP — in the article by Laurence J Kotlikoff and Jeffrey Sachs. And “gasp” is indeed the reaction to the $1 trillion plan to deal with financial institutions’ toxic assets. As Kotlifkoff and Sachs note, the plan can easily be gamed by participants:
The situation is even worse that it looks, however, since the GASP can be gamed by the banks that own the toxic assets to boost the purchase prices…
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