21st Century Economics: 1. Rampant fraud and reckless mismanagement in the financial sector, 2. Public bailouts of the worst actors in the financial sector, 3. Private debt and liability imposed on taxpayers, 4. Monetary policy aimed at recapitalizing insolvent and recidivist banks, 5. Promotion of business leaders and policy-makers who are chronically compromised, 6. Conglomeration of Systemically Dangerous Institutions into a more empowered menace.
Tuesday, August 28, 2012
Romney is Considering Greg Mankiw, Glenn Hubbard, and Jamie Dimon
Hubbard was interviewed by Charles Ferguson for Inside Job:
If you would like to read about Mankiw's contribution to failed economics, start here.
Jamie Dimon needs no introduction.
I am not saying that these are worse picks than Obama's team of destruction: Rubin, Summers, Geithner, Bernanke... But they are not better. Democrats and Republicans are more interested in perpetuating economic dogma than in seeking out people who actually saw the crisis coming, can explain why it happened, and want to put policy in place to stop the next one. That, unfortunately, is not on the agenda for Obama or Romney.
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