Here is a useful post on the math of the Geithner Plan. It comes via Marginal Revolution.

As Henry Blodgett said this afternoon:

Tim Geithner may finally have done it.

Done what, you ask?

Figure out how to transfer hundreds of billions of taxpayer dollars to insolvent banks and Wall Street without the taxpayer screaming bloody murder about it.  (Geithner has been trying to figure out how to do this since last fall with no success, so it’s no mean feat.)