Cynical Synapse

Thu, 12 Mar 2009

A “Must Read” article – “The Looting of America’s Coffers”

Filed under: Bailout, Blogroll, Economy, Politics, Profiteering — cynicalsynapse @ 8:25 pm

My friend, the Old Man, over at the Common Peoples Source for News, made me aware of David Leonhardt’s New York Times article about economist George Akerlof, a Nobel Prize winner, and Paul Romer. They wrote a research paper that was published sixteen years ago. The paper was about how the financial crisis in the 1980’s was the result of private investors taking advantage of the government. Striking resemblance to today, eh?

read more | digg story

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