In case you’ve been asleep in a cave with your hands over your eyes and cotton in your ears for the past few weeks, the American economy has been in a world of hurt recently. US Treasury Henry Paulson has put forward a far-reaching plan to deal with this crisis. As it turns out there are indeed a lot of things not to like about it, but in order to see what’s wrong with it we need to take a look at how the American economy got itself into this mess in the first place. This will tell us what’s wrong with the economy and whether the bailout plan will address that.
Bits and rants from Tony Emond