Finance prof: No passing grade yet for rescue plan

Not a passing grade yet.

That's Andy Winton's view of the plan Treasury Secretary Henry Paulson has been pushing to get the credit markets functioning well again — at a cost to taxpayers of up to $700 billion. Winton chairs the Finance Department at the University of Minnesota's Carlson School of Management.

Winton, says the plan needs more congressional oversight. He also says taxpayers should be given a stake in the financial institutions that will be rescued by the plan. Such a provision would reflect the strategies legendary investor Warren Buffett employs in taking positions in companies.


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