Krugman said the major European economies have “in effect declared themselves ready to follow Britain’s lead, injecting hundreds of billions of dollars into banks while guaranteeing their debts.”
“And whaddya know,” Krugman continued, “Mr. Paulson — after arguably wasting several precious weeks — has also reversed course, and now plans to buy equity stakes rather than bad mortgage securities.”
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Did you read Slate’s reprint of one of Krugman’s articles reducing finacial cycles to baby sitting coop? http://www.slate.com/id/2202165/
