Why The Busts Keep Getting Bigger: Krugman

06/24/2011 06:33 pm ET | Updated Aug 24, 2011
  • Paul Krugman and Robin Wells The New York Review Of Books

Suppose we describe the following situation: major US financial institutions have badly overreached. They created and sold new financial instruments without understanding the risk. They poured money into dubious loans in pursuit of short-term profits, dismissing clear warnings that the borrowers might not be able to repay those loans.

Read more on The New York Review Of Books

YOU MAY LIKE