Russ Roberts and Joe Nocera
By Arnold Kling
In this podcast, they get into a number of interesting issues regarding the financial crisis. Among the things that struck me was Nocera’s negative take on the bailout of Bear Stearns, which Nocera evidently thinks was not too big or too interconnected to fail.
As you know, I really liked the Nocera-McLean book. I think it is an important antidote to the view that the crisis was a short-term panic, rather than something that built up over many years due to hubris in Wall Street and Washington.