mind your business

Tuesday, July 19, 2011

Letting pundits bloviate

This Sunday, in a piece entitled "Letting Bankers Walk," Paul Krugman quite correctly criticized Washington's "go easy on the bankers" policy:

Ever since the current economic crisis began, it has seemed that five words sum up the central principle of United States financial policy: go easy on the bankers.

This principle was on display during the final months of the Bush administration, when a huge lifeline for the banks was made available with few strings attached.

But here's my rule: only people that didn't cheer lead for the TARP bailouts (like here, here, and here) get to complain about the TARP bailouts or position themselves as critics of the banking establishment with any amount of credibility.

Wes Messamore,
Editor in Chief, THL
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