眾人皆醉獨他醒.11年前亞洲金融危機時他提出控制資金流(controls on capital outflows)的言論當時被業內認為是可怕的(horribly),非正統的(unorthodox),不負責任的(irresposible)建議.11年后又一次金融危機到來的時候,資金控制已經成了IMF緊急救助計劃的一個主要組成部分.什麽是真知灼見?搬來海賊王里一句臺詞:男人做事響當當嘛…
Preliminary thoughts on the tax bill:
1. It’s not the way you should make policy — it’s clumsy, and it will punish some innocent parties while letting the most guilty off scot-free
2. But — there wasn’t much alternative at this point. And for that I blame the Obama people.
I’ll leave to others the question of who knew or should have known that the bonus firestorm was coming; but it’s part of a pattern. At every stage, Geithner et al
have made it clear that they still have faith in the people who created
the financial crisis — that they believe that all we have is a
liquidity crisis that can be undone with a bit of financial
engineering, that “governments do a bad job of running banks” (as
opposed, presumably, to the wonderful job the private bankers have
done), that financial bailouts and guarantees should come with no
This was bad analysis, bad policy, and terrible politics. This
administration, elected on the promise of change, has already managed,
in an astonishingly short time, to create the impression that it’s
owned by the wheeler-dealers. And that leaves it with no ability to counter crude populism.