Economists against the bailout

The most important line in this petition, in my opinion: "we ask Congress not to rush, to hold appropriate hearings, and to carefully consider the right course of action, and to wisely determine the future of the financial industry and the U.S. economy for years to come." (emphasis added)

I might be convinced that this bailout is necessary to avoid an even worse outcome down the road, but the mad scramble to get it passed - even bearing in mind the severity of the financial crisis - is unseemly and unnerving.

Damian P.

Posted by damian at September 24, 2008 11:49 AM