If he is correct, does this mean that the recession continues till 2012?
NY TImes: Despair over financial policy
This plan will produce big gains for banks that didn’t actually need any help; it will, however, do little to reassure the public about banks that are seriously undercapitalized. And I fear that when the plan fails, as it almost surely will, the administration will have shot its bolt: it won’t be able to come back to Congress for a plan that might actually work.
4 comments:
Hey, it looks like were on the same page here today! Scary, story Zombie banks win! I thought it read like a sequel to the "Night of the Living Dead."
It sounds like he is playing into the banks hands and doing what they want. Its hard for me to comment on this as the specific details are not clear yet. It is troubling that Krugman thinks its a loser because he has a history of being right.
The truth is all these guys owe Wall st. and the banks. Why, anyone thinks they'll diss their BIG contributors is beyond me? Wall st. DC same thing.
Makes sense, its payback. Its hard to believe Obama would sink his presidency right off the bat though. I don't get it. Msybe he lacks vision.
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