Why Has Greece Dropped From The Headlines?
It suddenly occurred to me that I wasn’t reading much about Greece the last few days. Was the situation stabilizing?
Not according to the bond market and the CDS market, which both seem to show things heading off a cliff. Why the sudden hush?
And going back through the day so far:
Paul Krugman
"In a crisis, the financial system will be bailed out. That’s just a fact of life. So what we have to do is regulate the system to reduce the chances of crisis and the taxpayer costs when the bailout occurs.
Let me be clear: I would very much like to limit the size of financial institutions, mainly for political economy reasons: it’s a real problem when these institutions start regulating the government rather than the other way around. But shrinking the banks is not a solution to the crisis problem, and the rhetoric of too-big-to-fail is in the process of being hijacked by people who really want no regulation at all."
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