30 September 2008

Bryan Caplan

One of the really ugly strains of modern government is the breathtaking astonishment when those damn'd voters don't do what's good for 'em. Here's Dr Caplan:
The bottom line is that if you actually read the questions, instead of just looking at the headline, the major bail-out surveys paint rather similar stories. Journalistic summaries of survey results are about as reliable as journalistic summaries of any scientific results. Blame the summarizers (or perhaps the summarizers' readers), not the sources.


A trio of voices on the bailout

Here's Dr Jeffrey Miron of Harvard, who's opposed to the plan. His highlights:

* Government encouraged lenders to relax their standards
* Mortgages were given to people unqualified to repay them, he says
* Rather than a bailout, government should let firms go bankrupt
* Talk of economic Armageddon is scare-mongering, Miron says

Read the rest here

Megan McArdle -- an economics writer for Atlantic magazine -- reacting to yesterday's vote:
"Actually, what I hope is that I'm wrong, we don't need a bailout, and after a period of liquidation, everything will settle down. If so, I will happily confess my error. But I'm very much afraid that I am not wrong, and things are about to get pretty grim."

Dr. Brad DeLong, Professor of Economics at UC Berkeley, is pro-bailout:

"A very good line from Rex Nutting:
"House to Wall Street: Drop Dead: WASHINGTON (MarketWatch) - With a firm rejection of Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke, the House Republicans have told the financial markets that they'll have to solve their problems on their own, without $700 billion of taxpayer money."