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See What People Are Saying About... Geithner's Revamped Bank Plan


US Treasury Secretary Timothy Geithner on Tuesday unveiled a stepped-up program to stabilize the financial system including an initial fund of 500 billion dollars to absorb toxic assets.

The renamed "Financial Stability Plan,"  also includes new efforts to boost consumer lending, limit home foreclosures and provide new capital for banks.

Financial Stability Plan
1. Financial Stability Trust
- A Comprehensive Stress Test for Major Banks
- Increased Balance Sheet Transparency and Disclosure
- Capital Assistance Program
2. Public-Private Investment Fund ($500 Billion - $1 Trillion)
3. Consumer and Business Lending Initiative (Up to $1 trillion)
4. Transparency and Accountability Agenda - Including Dividend Limitation
5. Affordable Housing Support and Foreclosure Prevention Plan
6. A Small Business and Community Lending Initiative

After Geithner's announcement, stocks and financials fell, while Treasuries and gold jumped.

Clearly many investors were less than impressed. James Ellman, President of Seacliff Capital in San Francisco, said, "investors want clarity, simplicity, and resolution. This plan is seen as convoluted, obfuscating, and clouded."

However, Michael James, a senior trader at Webush Morgan saw some upside. "The increase in TALF from $200 million to as much as a trillion is going to be a net positive increase, I think that will be a pleasant surprise."

And that leads to our Fast Money Reader Poll. Overall, do you think the newly revised financial stability plan will do just that --  restore stability.

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