October 17, 2008
Washington Puts Academics on Sidelines in Bailout Plan
On September 25, just after White House negotiations over a $700-billion Wall Street bailout plan collapsed in acrimony, Sen. Richard C. Shelby, an Alabama Republican who opposed the bailout, stood in front of television cameras and waved a petition. It was signed by roughly 200 economists who were also skeptical. "This is not me," he said. "This is economists at Harvard, Yale, MIT, the University of Chicago. Our leading universities. Five pages. It ought to tell you something."
That
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