Geithner says he has a plan for bad bank assets

In today's Wall Street Journal, embattled Treasury Secretary Timothy Geithner lays out the basics of his plan for bad bank assets. It's not too different than what Hank Paulson, Geithner's predecessor, suggested in October.

He'll give more details later this morning, but television cameras won't be allowed during the announcement.

Last month Geithner, in front of TV cameras, gave a speech where he was supposed to outline his plan to turn the economy around.

The stock market then dropped 300 points.

The New York Times' Paul Krugman, who no one confuses with the late Milton Friedman, doesn't think it will work.

Even if it succeeds, it will be expensive.

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