Marketplace

Kai,

I was listening to your show last night and I’d like to comment on that. First off, I’m one of those people who’ve written to congress on this matter, and - yes - I oppose the bailout. In your show you were characterizing people like me as wanting to seek revenge against Wall Street. Let me assure you that’s not the case; and moreover I actually resent that characterization as it’s shallow and baseless.

It seems to me that the mainstream media is doing a great job of missing out on the biggest story here. That story is how not only the vast majority of the American public, but also the vast majority of economists are opposed to this plan - and yet in the face of that opposition Congress seems determined to do it anyway. Are you aware of the open letter to congress which was signed by over 200 economists from major universities across this great nation? If not, please read it here (it’s short and to the point). http://faculty.chicagogsb.edu/john.cochrane/research/Papers/mortgage_protest.htm

More attention needs to be paid to the majority of economists who are, in fact, strongly opposed to this plan - and for very sound economic reasons. This is not about revenge. This is about good economic policy.