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View Diary: Krugman's numbers - a second try *UPDATED (65 comments)

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  •  strange dynamic (0+ / 0-)

    Krugman criticized the rumored plan using his assessment that Geither had insane hopes of refloating the banks by overpaying him as a baseline assumption. Many other people took that as a given. I tried a couple of times to point out that the actual plan didn't seem so bad and that Krugman's model was, uh, sensitive to some funny assumptions.

    I'm glad to see that other people who know more about this than I do also saw a problem with treating pooled assets as individual items.

    I'm suspicious both of arguments involving psychoanalysis of public figures and oversimplified models.

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