Investment in banks proved better strategy than mortgage bailout
(NEWSER) - The US has long considered Europe to be the economic equivalent of a doddering old uncle, but this week it was oldster leading whippersnapper America by the hand through the most serious crisis since the Depression. Europe, seeing the need for a sturdier fix than the mortgage-bailout Band-aid Washington proposed, led the charge by investing in its own banks, a move the US followed only after much hand-wringing. But it remains to be seen whether the trend will continue, the New York Times reports. More»
