None of Us is as Dumb as All of Us

September 27, 2008 § Leave a comment

No doubt the original Paulson economic rescue plan left a lot to be desired. “This is the best that can be done, even in theory” is not a proposition that even Paulson himself is likely to sign up to, I expect. Many people seem to assume that a highly charged midnight oil weekend debate among congresscritters will be capable of making rational improvements to it; in short, that in a crisis having a debate among a bunch of politicians while Rome is burning will add value to the process rather than detract from it.

I’m not convinced that that is a good assumption.

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