I think the heroes are (Federal Reserve Chairman) Bernanke. I think (former Treasury Secretary) Paulson's a hero. I think (current Treasury Secretary) Geithner’s a hero are ... you know, you can look back and say you could have done this a little differently or that a little differently, but at the time I called it an economic Pearl Harbor and in the end we got through Pearl Harbor. And-- and it could have turned out a lot differently.
UPDATE: Not everyone is as infatuated:
As Russ [Roberts] points out, the media are now honoring Paulson, Bernanke, and Geithner for transferring hundreds of billions of dollars from ordinary Americans to some of the richest people on earth. And, if [John] Cochrane and [Luigi] Zingales are correct, we are honoring them for putting out a fire that they started.
No comments:
Post a Comment