Wednesday, October 01, 2008

The Economists' Voice: The Bailout is Bad, Paulson is Wrong

I just received an email from Nobel Prize-winning economist Joseph Stiglitz calling my attention to some items that readers of this blog might find of interest--especially given the unfortunate vampire-like undead Paulson bailout bill now in the Senate. Here's the table of contents:
Columns
PDF
Good Bailouts and Bad
David O. Beim
PDF
Please Think This Over
Edward E. Leamer
PDF
A Better Plan for Addressing the Financial Crisis
Lucian A. Bebchuk
PDF
Auction Design Critical for Rescue Plan
Lawrence M. Ausubel and Peter Cramton
PDF
What if the Median Voter Were a Failing Student?
Bryan Caplan
PDF
Questioning the Treasury's $700 Billion Blank Check: An Open Letter to Secretary Paulson
Aaron S. Edlin
PDF
Dr. StrangeLoan: or How I Learned to Stop Worrying and Love the Financial Collapse
Aaron S. Edlin
PDF
Why Paulson is Wrong
Luigi Zingales
PDF
Investment Banking Regulation After Bear Stearns
Dwight M. Jaffee and Mark Perlow
PDF
Turn Left for Sustainable Growth
Joseph Stiglitz

And here's the link to The Economist's Voice, where one may download the articles in PDF format (I wish they were in HTML to read online). I assume some Congressmen and Congresswomen should be placing these in the Congressional Record, if forced to vote on the bailout bill again, so you may be hearing more about Economists Against Paulson in the future.

For the life of me, I don't understand why Obama isn't leading the charge against Paulson and Wall Street, using the mess to campaign against Bush-McCain's handling of the economy. There should be a clear difference between McCain and Obama on this, but he's fuzzed it all up, if Paulson's "cash for trash" bill passes, Obama might have a decidedly weaker hand to play when it come to the handling of the economy...