Tuesday, September 30, 2008

Posner on The $700+ Billion Bailout

Richard Posner writes about The $700+ Billion Bailout. It's one of the best summaries I've seen.

1 comment:

kim said...

One of the links on that page is to an interview with Warren Buffett where he supports the Paulson proposal.

"you have all the major institutions in the world trying to deleverage. And we want them to deleverage, but they’re trying to deleverage at the same time. Well, if huge institutions are trying to deleverage, you need someone in the world that’s willing to leverage up. And there’s no one that can leverage up except the United States government. And what they’re talking about is leveraging up to the tune of 700 billion, to in effect, offset the deleveraging that’s going on through all the financial institutions."