Monday, December 03, 2007

wow, NYT really tears into goldman sachs!

dec 3rd, 2007

amazing. thought they were all part of the cozy military-industrial-media complex. what, stein is having a moment of clarity?

http://www.nytimes.com/2007/12/02/business/02every.html?ei=5087&em=&en=0b272e2eb5ff4273&ex=1196830800&pagewanted=all

4 comments:

san said...

Doesn't anyone remember how, during the height of the housing boom, economist and Bush critic Paul Krugman was darkly warning about how the Bush admin and its cronies were irresponsibly stoking up the housing sector in the US economy, in order to help finance the Iraq invasion. After all, during those days of wretched excess, everyone was happy little well-fed drone, too contented to question or chafe under the Bush directive. But now the chickens are coming home to roost. To his great credit, Krugman called it right, even while right-wing critics were bashing him for his doomsaying prophecies. So what are people supposed to do now? Vacate the housing sector, I suppose, and go into the lesser-exposed markets. India is actually a particularly nice destination compared to so many others who were over-exposed. I think that's more by sheer accident than design.

san said...

Oh, but here's an analysis on Ben Stein's attack on Krugman:

http://www.dealbreaker.com/2007/12/ben_stein_fights_back_bashes_p.php

Hmm, quite the clash of views.

san said...

More on this:

http://www.alleyinsider.com/2007/12/krugman-financial-world-is-ending-what-says-ben-stein.html

DizzyDesi said...

Bad example.

This article has been almost universally derided and descredited for an amazing number of inaccuracies and falsehoods, in ust about every economic blog. (Many of the people doing the bashing are not big fans of wall street, so there is)

Here are a few articles on it:

http://economistsview.typepad.com/economistsview/2007/12/youre-outta-her.html