Friendly fire from the very liberal NYT.
http://www.politico.com/news/stories/0309/20325.html
Quote:
—Krugman, who is perhaps the most frequent Obama critic at the paper but also a Nobel Prize-winning economist whose analysis carries considerable sway in liberal circles, not even waiting for the administration’s bank plan announcement this week before panning it.
“It’s exactly the plan that was widely analyzed — and found wanting — a couple of weeks ago,” Krugman wrote on his blog. “The zombie ideas have won. The Obama administration is now completely wedded to the idea that there’s nothing fundamentally wrong with the financial system — that what we’re facing is the equivalent of a run on an essentially sound bank.”
The Princeton economist turned opinion columnist predicted: “This plan will produce big gains for banks that didn’t actually need any help; it will, however, do little to reassure the public about banks that are seriously undercapitalized. And I fear that when the plan fails, as it almost surely will, the administration will have shot its bolt: it won’t be able to come back to Congress for a plan that might actually work. What an awful mess.
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Can we get around from thinking that its just a bunch of right-wing 'blowhards' who think Obama is failing, to some 'supporters' of his who have serious problems with his proposals?