Monday, March 30, 2009
David Leonhardt (DL) has an article about bankers looting the public in the NYT, 11 March 2009. Here's a link: http://www.nytimes.com/2009/03/11/business/economy/11leonhardt.html. DL cites George Akerlof about this. I saw it firsthand in Texas in 1982-86. I agree with Akerlof. Yves Smith mentions Akerlof's paper on 6 March 2009, here: http://www.nakedcapitalism.com/2009/03/bank-rescue-programs-setting-stage-for.html.