Friday, September 19, 2008

Greg Mankiw's Blog: Is Paulson wrong?

Greg Mankiw's Blog: Is Paulson wrong?

Yes, the fountain line of Paulson's as :

“…the Paulson solution is that it taxes the many and benefits the few. Since the many (we, the taxpayers) are dispersed, we cannot put up a good fight in Capitol Hill; while the financial industry is well represented at all the levels. …Just as it is difficult to find a doctor willing to testify against another doctor in a malpractice suit, no matter how egregious the case, finance experts in both political parties are too friendly to the industry they study and work in…”
Saving Capitalism from Capitalists

Although it appear that it is unfair to taxpayers, but this occasion, I agree what he is doing, if not, the economy going to really blow up and the whole market suffer, then chain reaction to the whole world economy. Without this intervention we might face on the great depression again!

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