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- Larry Summers on TARP
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Larry Summers , Harvard economist and former U.S. Treasury Secretary under Bill Clinton, gives his thoughts on the proposed bailout:It is necessary to consider the impact of the bail-out and the conditions necessitating it on federal budget policy. The idea seems to have taken hold in recent days that because of the unfortunate need to bail out the financial sector, the nation will have to scale back its aspirations in other areas such as healthcare, energy, education and tax relief. This is more wrong than right. We have here the unusual case where economic analysis actually suggests that dismal conclusions are unwarranted and the events of the last weeks suggest that for the near term, government should do more, not less….
Original Source: bubblemeter.blogspot.com
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30 September, 2008| housingblogs |
@ 17:36