Since Runnin’ Scared has so closely followed the ongoing duel between New York Times big money columnists Andrew Ross Sorkin and Paul Krugman, it’s only appropriate that we bring you the final chapter, published in Saturday’s paper. Because this all happened in the Times universe, it took a while for the final word to come down; it’s like the golden rule of Old Media, really: by the time it’s in the paper, everyone already knows. Still, it validates what we’ve been saying all along, and that has to be worth something:
The DealBook column on Tuesday, about the possibility of the government’s making a profit on its bailout of banks, overstated the position of the economists Paul Krugman and Nouriel Roubini, at the height of the financial crisis, on nationalizing banks. While both supported guaranteeing the liabilities of the banking industry and a temporary government takeover of certain failing institutions, they did not recommend nationalization of the entire banking system. (Go to Article)
Sorkin = spanked.