As we continue to wade our way through the recession, people are looking at where we are and asking what happened. My personal opinion is that the current recession is largely a byproduct of normal moves in the economy over time but right now, we are still trying to figure it all out. One of the terms we hear a lot is the word, “bubble.”

The rumors are amounting nearly as much as the excitement. This morning at 11:00AM Treasury Secretary Timothy Geithner will unveil a plan that will involve a revised version of the bad bank program first put together and gained Wall Street buzz last week. This being the morning of the announcement there is still a lot of rumor surrounding but as of now, here is what I have read regarding the plan:

Have you wondered what this bad bank thing is that Obama is looking at? Let’s take a look at this letter from First Fictitious Bank that will help us understand what a bad bank is and how it works: