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Dark musings, 2009-03-24
interfluidity —
... powerful to regulate effective and too systemically important to be allowed to fail. That’s a recipe for dishonest transactions that produce short-term profits at the cost of blowups. One appealing element of nationalization is that it can easily be made to end in a world in which there is no institution named "Bank of America" or "Citi" and no such gigantic institution. On the bright side, I'm thankful that we have people like Paul Krugman , Simon Johnson , and Willem Buiter , who fight the good fight while being to eminent to ignore. On the dark side, try ...
"Which Plan is Best?" Follow-Up: Dark Musings
Economist's View —
... too systemically important to be allowed to fail. That’s a recipe
for dishonest transactions that produce short-term profits at the cost of
blowups. One appealing element of nationalization is that it can easily be made
to end in a world in which there is no institution named "Bank of America" or "Citi"
and no such gigantic institution.
On the bright side, I'm thankful that we have people like
Paul Krugman,
Simon Johnson, and
Willem Buiter, who fight the good
fight while being too eminent to ignore.
On the dark ...
Dark musings, 2009-03-24
The Big Picture —
... systemically important to be allowed to fail. That’s a recipe for dishonest transactions that produce short-term profits at the cost of blowups. One appealing element of nationalization is that it can easily be made to end in a world in which there is no institution named “Bank of America” or “Citi” and no such gigantic institution.
On the bright side, I’m thankful that we have people like Paul Krugman, Simon Johnson, and Willem Buiter, who fight the good fight while being too eminent to ignore.
On the dark ...
