Henry Paulson’s opposition to suspending mark-to-market accounting rules has been incredibly obtuse.
Today, one of the most accurate economic forecasters, Brian Wesbury offered an alternative to the bailout that is much less costly. While I think we now need some kind of bailout to prevent a collapse, Wesbury’s argument is compelling.
Conservative Republicans can and should insist on this reform as part of any deal.
Let’s hope Senator Shelby makes this his non-negotiable demand. If he does, taxpayers never may need to buy $700 billion worth of assets.