Monday, July 28, 2008
Paul Krugman has a few words of warning
About the current financial fiasco and how to prevent more.
This bill is the latest in a series of temporary fixes to the financial system — attempts to hold the thing together with bungee cords and masking tape — that have, at least so far, succeeded in staving off complete collapse. But those fixes have done nothing to resolve the system’s underlying flaws. In fact, they set the stage for even bigger future disasters — unless they’re followed up with fundamental reforms.Which is an economist's way of saying the Republican party must be destroyed and their ideology extirpated from the face of the earth.
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