Monday, October 13, 2008

Woe, woe is the banker

Rock star economist Steven Levitt points out an op-ed by Casey Mulligan, noting that there is no reason to panic. As this blog noted, the bankers are hurting more than any other industry.

This is a crisis of finance, so far. It will be Another Great Depression when unemployment reaches massive levels (over 25% by 1933). Not even Dr. Doom is predicting that.

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