DeLong's False Choice
“We have to ask ourselves: Do we want to revive our economy, or do we want to punish the bankers? . . . I don’t agree that we can do both.”
Punish the bankers? How? By not bailing them out and putting their universe back together again at taxpayer expense? This is sheer sophistry from DeLong. The government could in fact do nothing - not punish the bankers, and let their banks fail. Because that is what many have - failed banks.
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