It's Nice To See Some Agreement About The Bailout

It's Nice To See Some Agreement About The Bailout

Dr. John Lott (who is an economist) has an article at October 2, 2008 FoxNews.com about how economists are responding to the bailout:

While some politicians were reconsidering their opposition to the bailout this week, there is one group that still expresses a lot of concerns with the legislation: economists.

Interviews conducted with a dozen prominent academic economists, Obama supporters as well as McCain supporters, found little support for the bailout bill. Indeed, even the one economist who supported the proposal passed by the Senate Wednesday night had serious reservations.

Jonathan Berk, an award-winning finance professor at Stanford University and a strong opponent of the bailout plan, expressed the concerns of many: “I have never been so frustrated, I have never wanted to speak out publicly before on these political issues, but politicians don’t know what they are doing, they know nothing about these issues.”