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Economists against the bailout
Daimnation! — ... The most important line in this petition, in my opinion: "we ask Congress not to rush, to hold appropriate hearings, and to carefully consider the right course of action, and to wisely determine the future of the financial industry and the U.S. economy for years to come." (emphasis added) ...

A Petition in Opposition to the Bush Administration's Bailout Proposal
The Jawa Report — September 30, 2008 A Petition in Opposition to the Bush Administration's Bailout Proposal "For these reasons we ask Congress not to rush, to hold appropriate hearings, and to carefully consider the right course of action, and to wisely determine the future of the financial industry and the U.S. economy for years to come."- 190 University Economists ...

This Is What Math Is For
Right Wing Nation — I got chided over at Hot Air by somebody who claimed the “facts” have been out there for two weeks, and I just wasn’t paying attention. Sorry, but no, they have not. Where are the economic analyses balancing a bailout against none? I’ll tell you where they are: Nobody has bothered to do any. Pardon my skepticism, but hysteria tends to do that to me. Let’s see those analyses. Not everybody is shrieking “the sky is falling!” Here’s law professor Ilya Somin: Past history shows that stock market drops, even big ones, don’t necessarily cause longterm damage to the ...

Crazy Talk
Blue Crab Boulevard — Crazy Talk It seems there is a petition going around asking Congress to not do anything rash to our economic system: As economists, we want to express to Congress our great concern for the plan proposed by Treasury Secretary Paulson to deal with the financial crisis. We are well aware of the difficulty of the current financial situation and we agree with the need for bold action to ensure that the financial system continues to function. We see three fatal pitfalls in the currently proposed plan: 1) Its fairness. The plan is a subsidy to investors at taxpayers’ expense. Investors who took risks to earn profits must also bear the losses. Not every ...