The U.S. government’s plan to spend $700 billion to buy up shares of financial insitutions and their toxic assets was imperfect but necessary, argues EPI Research and Policy Director John Irons. In a <a href=”http://knol.google.com/k/knol-debates/2008-presidential-election-policy/1zs871mejtqiw/5?locale=en#” title=”debate”>debate</a> with the Cato Institute on Google’s interactive Knol, Irons says vigilance is now needed to ensure that taxpayers are protected as much as possible.