Brad Delong — Rob Johnson As Well As George Soros: A Ameliorate Bailout Was Possible

Rob Johnson together with George Soros: A Better Bailout Was Possible: "A critical chance was missed when the burden of post-crisis adjustment was tilted heavily inwards favor of creditors relative to debtors.... When President Barack Obama’s direction arrived, i of us (Soros) repeatedly appealed to Summers... [for] equity injection into frail fiscal institutions and... writ[ing] downwards mortgages to a realistic marketplace value.... Summers objected that ... such a policy reeked of socialism together with America is non a socialist country...

The political toll was the Democrats losing both the presidency, the legislature, together with almost province capitals, largely every bit a effect of failure to stand upward up.

Grasping Reality
Rob Johnson together with George Soros: Influenza A virus subtype H5N1 Better Bailout Was Possible
Brad DeLong | Professor of Economics, UCAL Berkeley