Economists Question Government Bailout Plan
A large number of highly regarded economists wrote a letter to Congress last week expressing great concern for the bailout proposed by Treasury Secretary Paulson. Specifically, they question the fairness, the ambiguity, and the long term effects of such a plan. Do read the letter, which is very short and easy to understand and includes the names of the economists.
posted by Publia at 8:14 AM
4 Comments:
The bailout plan is a bad idea on so many levels. Government is proposing to intervene, at taxpayer expense, into the natural consolidation of a sector that has had a record run up in recent years. Fully 1/3 of *all* US corporate profits in 2006 were from this sector.
Dave
http://www.islandersoftware.com/weblog/2008/09/27/just-say-no-to-the-bailout-plan/
I liked your post on the bailout Dave, on your blog. Other readers should go read it. I also liked your link to "Investment Biker." Last I heard, Jim Rogers was living in NYC making a ton of money. Since that was a few years ago he might just be available . . .
The amazing thing about Rogers is that if you go back and read his predictions from years ago they're almost all right on the money. Another good book of his is "Hot Commodities".
I will have to read that! Thanks for the tip!
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