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24th October, 2008 The NS has published a short piece this week: “Economists simply would not accept that their model could fail“. An introductory sentence is not mine: “Who would have predicted..that prudent Gordon Brown (would) breach the EU cap on government spending?” Am writing to the NS to ask for a correction
Lawmakers in the US struggle to come to terms with the scale of the financial crisis, the Paulson solution, and the role of government in resolving this crisis. Republicans, particularly conflicted, sabotaged the $700 billion bail-out last Thursday. At this moment Alan Greenspan proferrs advice from the lofty heights of the pedestal he still, astonishingly, stands on. “As a practical matter” he and others write in the Wall St. Journal (26.09.08) and “at the current stage of the crisis, the only way that financial institutions can continue to function is for the government to provide financial support.” |
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