Krugman: "We Are Socializing American Finance"
Paul Krugman, an economics professor at Princeton University, talks about the U.S. government's move to cleanse banks of troubled assets and halt an exodus of investors from money markets and the outlook for the U.S. financial-services industry and economy
click for video
00:00 "Socialization" of U.S. financial system
01:51 Bailout's justification; "inevitable" rescue
04:13 The outlook for U.S. banks is "not clear."
05:02 "Weakening" economy into next year
Running time 05:57
Source:
Krugman Sees `Socialization' of U.S. Financial System: Video
Bloomberg, September 19, 2008 17:53 EDT
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aBeeO5ZX3T_w
Saturday, September 20, 2008 | 07:58 AM | Permalink
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Comments
The thing is, America hasn't been a free market since 1913. As long as there's a Federal Reserve we will never be a free market, so Krugman's little stab at Libertarians is ridiculous.
Krugman is loving every minute of this. America is currently the nanny state that him and his Princeton Socialist pals have always dreamed about.
"Hooray China quasi-Capitalism, down with American pigdog Libertarianism!!!"
LOL! Academics are pathetic!!!
Posted by: Brian | Sep 20, 2008 8:23:01 AM
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