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Equities, Pay Caps, Liquidity: Structuring a Bailout--Posner

Posted on October 05, 2008

I want to comment on Becker's post, of course, but I will also take the opportunity to respond to one of the themes in the very interesting comments that readers of our blog made on my post of last week.I agree completely with Becker that the government should not in general have an ownership interest in private companies. The in general qualification is intended in part to approve of allowing the government to acquire such an interest temporarily, as part of the current bailout (for reasons I explain below); and in part to leave open the question whether the Social Security Administration s...

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federal reserve , housing , housing bubble , interest rates