To blab some more about Krugman on NewsHour: I think he basically agrees with what I said above, but in response to the Geithner proposal he said something like "there's some possible interpretation of the plan that might make it a good plan, but there's just not enough details to tell. My hope is that this [i.e., something like I said above] is really their plan, but they just think the country isn't ready to hear it yet. So they are sort of going halfway, but at least putting the pieces in place, so that when they have to do it [i.e., take over the banks] they will at least be part of the way there." Then he looked kind of skeptical and said something like: "That's the hope anyway."
That's all paraphrased, but it's the gist of it. He didn't sound too hopeful though. This is very similar to Stiglitz saying that they will have to do this eventually, but they are going to try every other possible thing first.
Matt points to Krugman talking about this on his blog (especailly the last "trojan horse" line.)
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That's all paraphrased, but it's the gist of it. He didn't sound too hopeful though. This is very similar to Stiglitz saying that they will have to do this eventually, but they are going to try every other possible thing first.
- jim 2-11-2009 3:46 pm
Matt points to Krugman talking about this on his blog (especailly the last "trojan horse" line.)
- jim 2-11-2009 4:20 pm [add a comment]