Saturday, September 27, 2008

Back to the bailout:

Check out this recent comment by Dean Baker: (emp add)
How Does the NYT Know That the Bailout Is Intended to Prevent an Economic Collapse?

The NYT told readers that the Bush administration requested the $700 billion bailout "to prevent an economic collapse."

Is that so? Do we know for sure that this is not a trumped up crisis designed to help the Wall Street fat cats? I don't know the answer to that one. If the NYT does they really should share this information with their readers.

--Dean Baker
There is, even now, far too little information out there, regarding the crisis and the mechanism for solving it. But we are beginning to read about alternatives that certainly look like they address a real problem while not wasting money on Wall Street crap paper (Calculated Risk, Bill King)


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