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View Diary: My Favorite Authors: Paul Krugman, a prize for Cassandra and a clarity of economics (50 comments)

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  •  Krugman isn't a Wall Street insider (2+ / 0-)
    Recommended by:
    llywrch, Limelite

    He's the sort of economist who wants to understand things, rather than to create ideologies that help insiders make a killing. So he's not acceptable to Wall Street, neither as Secretary of the Treasury, nor as a "serious" economic adviser to the President.

    Obama appointed insiders to Treasury and Defense at the beginning of his first term -- presumably because there was no other way to prevent a full scale revolt in those sectors. He has a bit more leverage with Defense now, because of Bin Laden, but it's doubtful Wall Street is ever going to accept anyone at Treasury they don't think is mainly representing their interests to Obama.

    •  I should think that after Wall Street (0+ / 0-)

      abandoned him in favor of Mittens in the campaign, he has no more reason to curry favor with them.  Indeed, quite the contrary and being a lame duck, not needing to worry about re-election this is an opportunity for some major league pay back.

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