"The Zombie Ideas Have Won" - Paul Krugman on $1 Trillion Geithner Plan to Buy Toxic Bank Assets
it’s basically saying that, you know, there’s nothing really fundamentally wrong with our banking system; there’s just this crisis of confidence, and so nobody wants to buy, you know, asset-backed securities, nobody wants to buy stuff that’s ultimately backed by home mortgages, and if only we could get people to see that these things are really pretty decent assets, then the banks will be in fine shape. And that’s the trouble. You know, there’s ... Full Story »
Posted by Dwight Rousu
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