Chicago Economists Lead Bailout Opposition

Some Chicago economists are leading an opposition movement to get lawmakers to consider other options.

Two economists lead the opposition movement, one from the University of Chicago, the other from Northwestern University. And Thursday their concerns were brought into the White House meeting.

Senator Richard Shelby went to the White House armed with a letter. The letter is signed by 200 economists, including three Nobel Prize winners, and warns Congress not to back the bailout.

Read the whole story here.

Comments

[Mahi Joe]

Finally, there are people out there who understand the true situation. Bravo!

[naschkatze]

We came across the petition several days ago and have been linking it wherever we can. This is what we must do. The market and economy are not going to collapse as evident from the past two days, and there is plenty of time to come up with a well thought out solution by experts in the field, not by politicians who admit they know nothing about economics nor by the financial institutions which caused the crisis. I put more stock in these people whose education and work have been dedicated to economics. It's time to take our country back from the anti-intellectuals.

[FredOCal]

See what happens when you give people a chance to LOOK at a bill before it's shoved down our throats?

[RabidRightRebel]

No suprise there it was the Chicago economists that pushed for deregulation in th first place. These fools are so indoctrinated into the free market philosopy they think the Russian oligarcy is a good thing.

[FredOCal]

While I agree with you about their past history, they are doing the right thing in this place. For some reason, they want America to remain a shell of a democracy, although I'm not sure why. Friedman had been known to help the most brutal dictators, so I'm confused, but they are doing the right thing in this one case.

[TheQuestion]

Taking the position for a moment that the situation is not as grave as Bush painted it to be:

Could there be other motives ? Is this a Rovian tactic to give John McCain a crisis to look like hero in ?

Exactly how concerned is George Bush that a Democratic President might follow him ???

Just asking ??