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From yesterday's NY Times. Paul Krugman comes out agains the government's policy of throwing the tax payer to the wolves to bail out Private banks (with insurance policies to cover bad debt).
Why is the government pushing ahead with saddling us with this mountain of debt in the face of both domestic and international expert opinon?
Its like the developers and 2nd, 3rd, and 4th home buyers of the country spent the last 15 years on a winning streak in the casino but have now, having spectactulary stacked it in the last few hands expect the rest of us to wipe up their mess.
Truly, I do not understand why Banks get to play fast and loose with their money and then expect us to take the hit when they screw up....
