Re: [Pen-l] Larry is still at it

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

What I got out of the paper was the importance of the information that 
banks accumulated about their clients. Now, of course, they don't need 
information -- what they need is unformed investors to buy their crap.

On Mon, Jun 08, 2009 at 01:40:29PM -0700, raghu wrote:
> 
> I don't understand this exalted opinion many people have of him. Even
> in his famous study of the Great Depression, he seems to be biased in
> favor of monetarist (Friedmanist) responses instead of fiscal
> (Keynesian) to a credit contraction. Under that ideology of course,
> the government would bailout banks with unlimited taxpayer money and
> then balance its books by fiscal tightening which is exactly the
> prescription he seems to be following now.
> 

-- 
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu
michaelperelman.wordpress.com
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