A long list. Thanks to Alex Tabarrok for the pointer.
UPDATE: two more, one pro and one con
A long list. Thanks to Alex Tabarrok for the pointer.
UPDATE: two more, one pro and one con
Sep 24 2008
I will update this post as new items merit attention. First, my latest essay opens, I am concerned that the bailout might be the cause of the problem that it purports to solve. I am re-using Karl Kraus' famous quip about psychoanalysis. Read the whole thing, and you can decide whether what I am offering is analysis...
Sep 24 2008
From The PBS News Hour on September 23: JEFFREY BROWN: Let me ask you, stay with you. One of the issues that we heard raised in the hearing was the question of whether anybody can fairly value the bad assets out there, how this would work mechanically. What do you think? How should that work? EUGENE LUDWIG: The plumb...
Sep 23 2008
A long list. Thanks to Alex Tabarrok for the pointer. UPDATE: two more, one pro and one con
READER COMMENTS
E. Barandiaran
Sep 23 2008 at 7:58pm
I’m sorry Arnold but you’re still hysterical. Please read the open letter carefully. The second point contradicts the first one: you cannot say that the plan is a subsidy until you know its details. Also, the last paragraph ignores the long but inconclusive discussions about “the right course of action” that have followed the several crises of the past 27 years, and more importantly the terrible record of the US Congress to wisely determine the future of the financial system.
E. Barandiaran
Sep 23 2008 at 8:15pm
Maybe the signatories of the open letter should read the latest RR’s post and the related comments:
http://cafehayek.typepad.com/hayek/2008/09/some-bubble.html#comments
John Fast
Sep 23 2008 at 10:34pm
I notice that one of the two “dueling experts” — the one on the side of the angels — is from Duke University (my undergraduate alma mater) while the other is from North Carolina State.
At Duke, we always said that “If you can’t go to a real college, go to State.”
I don’t know whether to feel angry at Professor Walden, or sorry for him. Maybe both. :-[
I hope this exposure gets Mike Munger a lot of protest votes in the election!
Tgriffin
Sep 23 2008 at 10:51pm
The government should act, if it does, in essentially the same way as Buffett just did regarding his investment in Goldman. The taxpayers should get no less. It’s the right way forward if taxpayer money is used. The warrents are essential. A market price is critical.
Matt
Sep 23 2008 at 10:52pm
The best solution, actually, is for all of us to believe that a bill will pass, but we continually reject the current version.
Each version we debate, two things happen, 1) we migrate toward equilibrium value of the toxic waste, and 2) all parties have a chance to adjust portfolios.
Eventually we will have to pass a bill, hopefully much smaller and with no new institutions.
Comments are closed.