Monday, September 29, 2008

Full Text

All 110 pages of it. I'm going to read it when I have time tonight. I read the summary on the plane this morning and while I'm still pissed that we are funding this with debt, this is probably as good a deal as the taxpayer is going to get. Let's hope it actually works.

Nouriel Roubini, who I just found out is the economist that Glenn Beck uses (props to Glenn Beck for tracking him down at NYU), is beyond pessimistic. And that scares the hell out of me. The man is brilliant and has been predicting this exact situation for a couple of years. They don't call him Dr. Doom for nothing.

Does anyone else find it a little odd that our entire economy is wrapped around credit? I understand why it works, but maybe we need to rethink the credit paradigm.

I'll comment more tomorrow after I read the details.

1 comment:

John said...

Loved the Dr Doom article. Very interesting ideas put in context of other bailouts that I have not yet seen.

Maybe instead of bringing together the presidential candidates to work out a deal they should have gotten together top economists to present recommendations.