Wednesday, September 24, 2008
No Bailout without EquityI recommend this piece by David Leonhardt (NY Times).
Leonhardt, whose columns on economics are among the best writing available on the topic, emphasizes the importance of taking an equity stake as a means of reducing the ultimate cost of the bailout to the taxpayers.
The more that the government overpays for the assets, the larger the subsidy it’s providing to Wall Street — and the more it is pushing up the share prices of Wall Street firms.
Technorati Tags: Bailout Bill
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No subject for immortal verse
That we who lived by honest dreams
Defend the bad against the worse."
-- Cecil Day-Lewis from Where Are The War Poets?
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