Why Paulson is (maybe) right

First of all, let me state clearly my position. Banks have made huge mistakes. Even though many serious economists (the likes of Robert Shiller and Nouriel Roubini) had warned for years – not months – that the credit boom and the housing price bubble would end up in tears, bankers superbly closed their ears and […]

Financial crisis resolution: It’s all about burden-sharing

An old and familiar debate is back. Should taxpayers bail out the US banking system, quite possibly the British and European ones as well? There are two standard views on the multi-trillion dollar question of who pays for getting us out of the financial crisis One view is that the situation has become so desperate […]