Tuesday, December 11, 2007
Further to the "Bush plan" to help subprime borrowers
I realize that Paul Krugman is a "liberal" economist/journalist, but in addition to the source I cited in my previous post ("Sweet Spot, 12/07) about the effect of Bush administration's "plan" to deal with the subprime loan debacle (namely, that it's a cruel hoax and a charade) check out Krugman's analysis in yesterday's NYT. His view: That it's an ineffective, industry-driven attempt to preempt a Congressional effort to deal meaningfully with the crisis. In other words, a cruel hoax and a charade.