Thursday, October 2, 2008

On the Bailout, or Your Wikipedia Assignment

I still have conflicting opinions on the bailout (not, however, on the Paulson bailout plan, which is clearly reckless). I think it behooves anyone hoping to formulate an opinion to brush up on the following:

Federal Reserve

Federal Reserve Act (I think the resulting compromise legislation effectively debunks conspiracy theories propounded by Libertarians)

Shadow Banking System

Extra credit:
Commercial Paper

Money Fund

In any case, I think opinions necessarily have to fall into the Practical and the Ideal, so keep that in mind when you hear people talk about the bailout.

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