Tuesday, March 10, 2009

"Irrelevant Lehman?"

Asks Paul Krugman. He disagrees with John B. Taylor, refers to James Surowiecki's comment in the New Yorker and uses the following image:
"You’re looking at some building, and you hear the fire alarm go off, and smoke starts trickling out the windows. Then a lot of fire trucks and firemen arrive — and only after that do flames start shooting out the top of the building. Clearly, the fire department turned a small problem into a crisis."

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