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Paul Krugman on the effects of the bailout so far
Monday, October 06, 2008
After what happened in credit markets today, he suggests going back to the drawing board and predicts a very bad transition ahead for whoever wins the White House (from MSNBC).
2 comments:
We won't know if the bailout will work for many months. What I don't understand is why we are giving money back to the same yahoos who got us into this mess to begin with. The Treasury is buying crappy assets so those people can continue to lend? I thought it was supposed to help us exit this mess. We're obviously bailing out the wrong people.
What I don't understand is why we are giving money back to the same yahoos who got us into this mess to begin with.
Because we are gullible idiots who will do anything in an attempt to avoid/defer the pain that is coming.
Chad wants to know why we are giving money to the same yahoos who got us into this mess...I want to know why Krugman thinks that if only he was in charge everything would get better overnight?
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