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What Cowboy Diplomacy Gets You September 21, 2008

Posted by trouble97018 in Economy, News, Politics, Repiglicans.
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The dirty little secret to last week’s crisis is buried in a quote from Henry Paulson in this morning’s Times.

“Going back a long time, maybe a year ago, Ben, as a world-class economist, said to me, ‘When you look at the housing bubble and the correction, if the price decline was significant enough,’ ” the only solution might be a large-scale government intervention, Mr. Paulson said. “He talked about what had happened when there had been other situations historically.”

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