Krugman Does Not Like The Plan

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Keynes's picture
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Krugman has come out in an unabashedly negative view of the administration's plan:

http://www.reuters.com/article/GCA-CreditCrisis/idUSTRE52M4SS20090323

What intrigues me is:

Why is the market so enthusiastic about it?  I guess it's good for valuations in that the banks are just getting a trillion free dollars, in essence.  But I don't think it's good for the economy.