Re: [Pen-l] the looting of the US Treasury

To: Progressive Economics <pen-l@xxxxxxxxxxxxxxxxxx>
Subject: Re: [Pen-l] the looting of the US Treasury
From: Patrick Bond <pbond@xxxxxxxxxxx>
Date: Wed, 11 Mar 2009 23:33:34 +0200
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Desperate libertarian paradigm-maintenace?

Jim Devine wrote:

The Looting of America’s Coffers
By DAVID LEONHARDT
... The paper’s message
is that the promise of government bailouts isn’t merely one aspect of
the problem. It is the core problem.
...
Do you remember the mea culpa that Alan Greenspan, Mr. Bernanke’s
predecessor, delivered on Capitol Hill last fall? He said that he was
“in a state of shocked disbelief” that “the self-interest” of Wall
Street bankers hadn’t prevented this mess.

He shouldn’t have been. The looting theory explains why his
laissez-faire theory didn’t hold up. The bankers were acting in their
self-interest, after all.

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References:
- [Pen-l] the looting of the US Treasury
  - From: Jim Devine

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Thread context:
- [Pen-l] the looting of the US Treasury, Jim Devine Wed 11 Mar 2009, 20:47 GMT
  - Re: [Pen-l] the looting of the US Treasury, raghu Wed 11 Mar 2009, 20:58 GMT
    - Re: [Pen-l] the looting of the US Treasury, Jim Devine Wed 11 Mar 2009, 21:07 GMT
  - Re: [Pen-l] the looting of the US Treasury, Patrick Bond Wed 11 Mar 2009, 21:07 GMT
  - Re: [Pen-l] the looting of the US Treasury, Gar Lipow Wed 11 Mar 2009, 22:30 GMT
- [Pen-l] killing in Germany, Jim Devine Wed 11 Mar 2009, 20:03 GMT
- [Pen-l] The Leninist Party: an annotated bibliography, Louis Proyect Wed 11 Mar 2009, 17:41 GMT
- [Pen-l] What is the Crisis About? Fictitious Capital or the Destruction of Wealth?, michael perelman Wed 11 Mar 2009, 15:36 GMT

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