“I was on Charlie Rose early in the week, in a panel with Mr. Krugman and my colleague Andrew Ross Sorkin. We were a moderately glum group, I must say; though the market had gone up some 7 percent that day of the Treasury announcement, we shrugged that off as irrelevant (which it mostly was), and pronounced the plan just more of the same old, same old. But then, after we got off the air, Mr. Rose brought on Tom Steyer from Farallon Capital and my friend Daniel Alpert of Westwood Capital, who were much more positive about its prospects for succeeding.
That got my attention. So I decided, for my column this week, to dig a little deeper and find out why they were so optimistic, and whether their optimism was justified. As it turns out — and somewhat to my surprise — I wound up agreeing with them.”