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Team Obama On The Sanctity Of Contracts

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I wonder: Is Larry privately opposed to the cramdown proposal as an abrogation of contract? (Of course, even if he is, he is too much of a team player to say so explicitly.) Or perhaps he sees some principled reason why one kind of contract cannot be rewritten ex post while the other can. It would be a good question the next time some reporter talks to him.

Read the whole story at gregmankiw.blogspot.com

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