Friday, April 17, 2009

Happy To Be Wrong

But, like Stiglitz, don't see how this bank shareholder/bondholder bailout is going to end well. If you ignore all the losses and change the accounting rules they're profitable! But, you know, not profitable enough to give it back.

Stiglitz is going to get in trouble again for daring to suggest that maybe people are unduly influenced by their peers and economic benefactors. He practically got himself declared persona non grata for suggesting similar in his book. The econ can be weird.