(Community Matters) Admittedly, I’m a Krugman groupie – not to mention an unapologetic fan of fairies
by the way, this notion that lenders shouldn’t lose money is a false assumption. It isn’t as if many of today’s lenders aren’t predatory by historical standards and that systems haven’t been exploited resulting in our ensuring them and their investors against downside without rights for any of the upside – further incentivizing risky and bad decisions. I don’t know enough about the details of Icelanders’ refusal to approve their government’s payback for their bank bail out but I do like that the citizens aren’t rolling over.
Community Matters 