Breakfast Buffet, Tuesday, March 24

Newsweek's daily serving of news and views on the economy from around the world.

The Geithner Asset Plan: The Wall Street Journal grudgingly endorses the Geithner plan, pointing to the market rally as evidence that any plan--whatever its pitfalls--is better than uncertainty.

The Bank Rescue: The New York Times offers a less optimistic assessment. Its editorial says buying up toxic assets puts taxpayers at too much risk, instead proposing that the government dissolve and restructure failing banks. Joseph Stiglitz agrees.

The Importance of Empty Words: FT's Gideon Rachman predicts that insincere gestures will probably be all that come out of the upcoming G20 summit in London. But, he insists, those gestures at least set a standard for free trade at a time when the world's big players are tempted toward protectionism.

Out With the Dollar: China's central bank wants to replace the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund. Seems a variation on a theme from yesterday, when Joseph Stiglitz's panel called for a UN-run global reserve system.

Paydirt on Agricultural Land: An interesting bit in the Economist about one real estate market defying the conventional wisdom. High food prices have apparently led people to buy up farmland in several countries, pushing up prices even in a beleaguered area like Ohio.

Breakfast Buffet, Tuesday, March 24 | News