Thursday, October 02, 2008

Nicholas Kristof on Wall Street & Congress

[..] If the Congressional critics of the bailout want to do some lasting good, they should come back in January — after approving the bailout now — with a series of tough measures to improve governance and inject more fairness in the economy. [..]

[..] "Wall Street urgently needs to undertake its own housecleaning, for the public revulsion toward it undermines its own long-term interests.

But, for now, the priority is to get credit flowing again in the arteries of commerce, even if that means saving the jerks. Otherwise, we risk becoming Japan." [..]

- Nicholas Kristof, NY Times, October 2, 2008