Does He Pass the Test? by Paul Krugman | The New York Review of Books

Does He Pass the Test? by Paul Krugman | The New York Review of Books:



"But confidence in itself is not enough to deal with the broader consequences of a debt overhang. That takes policies that go well beyond saving financial institutions—policies like sustained fiscal stimulus and debt relief for families. Unfortunately, such policies were never forthcoming on a remotely adequate scale, which is why true recovery has remained so elusive. And although Geithner denies it, one contributing factor to the inadequacy of policy was surely the fact that he seemed uninterested in, and maybe even hostile to, the policies we needed after the panic subsided."



'via Blog this'