The Question No One Is Asking
Friday, January 2nd, 2009Cash for trash!
Paul Krugman discussing the financial bailout, New York Times, Sept. 22.
Ahh, memories of 2008…
First came the slump in the housing market and growing mortgage defaults, then we found out about those infamous credit default swaps which were followed by the collapse of financial institutions and insurance companies (and the stock market along with them), then the call for a bailout of auto manufacturers and later other smaller companies and most recently the Bernie Madoff investment debacle. The economic house of cards that American finance built over the past two decades is in a heap on the floor, and we, Americans, are asking ourselves disturbing questions: (more…)