D'oh! What did Krugman say on Olbermann?

[senseandsensibility]

I was glued to the show because Keith said that Paul Krugman was going to tell us what to do with our money, but I was distracted and I missed it. What did he say?

[msallied]

1. He said it was now time for Dems to return to the table and write a better bill.

[gateley]

2. Do you know what his opinion was of the bill voted on today?

Just curious - I think he really knows his stuff.

And his statement indicates he feels something is necessary, don't you think?

Wish they'd call him in to consult.

[tekisui]

3. I read yesterday that he said the bill wasn't sufficiently awful

I think that is how he said it. He said, it wasn't horrible and would help, and could be corrected later by Pres. Obama.

[gateley]

8. Sounds pragmatic. Not a horror, not a panacea - but do-able.

Thanks for the report!

[Kurt_and_Hunter]

5. He said better to pass it than not

[gateley]

9. Thanks.

:wave:

[Batgirl]

7. He weighed in on this several times today on his blog.

Here was what he posted after the vote:

"September 29, 2008, 3:02 pm
OK, we are a banana republic
House votes no. Rex Nutting has the best line: House to Wall Street: Drop Dead. He also correctly places the blame and/or credit with House Republicans. For reasons I’ve already explained, I don’t think the Dem leadership was in a position to craft a bill that would have achieved overwhelming Democratic support, so make or break was whether enough GOPers would sign on. They didn’t.

I assume Pelosi calls a new vote; but if it fails, then what? I guess write a bill that is actually, you know, a good plan, and try to pass it — though politically it might not make sense to try until after the election.

For now, I’m just going to quote myself:

So what we now have is non-functional government in the face of a major crisis, because Congress includes a quorum of crazies and nobody trusts the White House an inch. As a friend said last night, we’ve become a banana republic with nukes."

http://krugman.blogs.nytimes.com/

[gateley]

11. Thanks! What a dolt -- I didn't even think to check his blog!

:banghead: I appreciate your cut and paste and the link -- headed over there now! :hi:

[Batgirl]

13. All of my reading about this and I'm still feeling pretty doltish myself nt

[senseandsensibility]

4. So no advice on what average people should do with their money?

Keith said that would be coming. He's one of the few I would actually take advice from.

[Ichingcarpenter]

6. Krugman said your ATM and bank should be fine but this

effects small business and larger corporations right now.

[gateley]

12. Yes - a DUer posted how how her husband's company informed the employees

that this might mean having to close their doors (the credit freeze, or whatever they're calling it.)

This afternoon, around five-ish, there was a long line of cars at the drive through ATM by where I live. People are understandably nervous until they find out how/if this will affect their access to their money.

[Ichingcarpenter]

15. It would of course depend on the bank - I read that Bush is gonna give away

$650 billion to the financial markets tonight without congressional approval.

[gateley]

17. I saw that, too -

I'd love to hear the experts' take on this.

Does they HAVE to do it if Bush requests it? Can they just say No?

[kerry-is-my-prez]

18. The bank I bank at (Wachovia) is now Citibank - I'ts changed 5 times now....

[DCBob]

10. He also siad McCain was acting "unpresidential".

[democrat2thecore]

14. Krugman is a "liberal" economist not particularly "progressive" in a socio-political sense -nt

[democrat2thecore]

19. By the way, before anybody asks....

Progressive economists would include Ravi Batra, Robert Kuttner and many of the economists associated with the Economic Policy Institute - even Robert Reich is more progressive than Krugman.

[seabeyond]

16. i think this gives the dems the time to tighten up on regs and caps

and present it again. in dictering you say 1000. the other says 50 and you say 5000. take it or leave it.