For Future Reference
By Arnold Kling
Money is weird. Finance is weird. There is no other industry that is, first, so tightly coupled, and second, severely affects every other industry in the country.
She Is trying to ward off cognitive dissonance over the fact that she opposes bailing out the auto industry and yet supports the financial bailout. In speaking of the former, she comes across as wise. In speaking of the latter she comes across as…considerably less articulate.
And yet, since the crisis began, I am not sure that Ben Bernanke and Henry Paulson have articulated anything more persuasive than “Money is weird. Finance is weird.” Have they?
I am certain to say quite a bit more about this in future macro lectures.