My “let the storm pass” theory now has verification from a guy who looks like this. Dan 1, Paulsen 0.
His name is Jeffrey A. Miron and he’s a senior lecturer in economics at Harvard. Says he:
This bailout was a terrible idea. Here’s why.
The current mess would never have occurred in the absence of ill-conceived federal policies. The federal government chartered Fannie Mae in 1938 and Freddie Mac in 1970; these two mortgage lending institutions are at the center of the crisis. The government implicitly promised these institutions …