[lbo-talk] Discussing the Crisis/Bailout

[John Thornton]

Jordan Hayes wrote:
>>> Can you point me to a "very good" argument against the bailout?
>
> FWIW, Krugman just published a short paper that's much less blog-y 
> (and, alas, far more geeky; if you don't mind 'the greeks' ...) and 
> lays out what I think is a compelling story about what has changed for 
> (the study of) international macro economics and thus conclusively why 
> (he thinks) the bailout "won't work" ... see especially Seciton 5: 
> Implications.
>
> FWIW, bits and pieces of this story have been in his blog over the 
> past week, but he put it all together in a 5 page paper (plus some 
> graphs).
>
> http://www.princeton.edu/~pkrugman/finmult.pdf
>
> /jordan

Thanks. I'll take the time to check it out.

John Thornton