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Politics : President Barack Obama
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To: RetiredNow who wrote (113693)5/16/2012 7:36:39 AM
From: Road Walker  Read Replies (1) of 149317
 
Krugman is also right about this:

Why, exactly, are banks special? Because history tells us that banking is and always has been subject to occasional destructive “panics,” which can wreak havoc with the economy as a whole. Current right-wing mythology has it that bad banking is always the result of government intervention, whether from the Federal Reserve or meddling liberals in Congress. In fact, however, Gilded Age America — a land with minimal government and no Fed — was subject to panics roughly once every six years. And some of these panics inflicted major economic losses.
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