Add Paul Krugman to the growing list of the those who don't believe in Timothy Geithner's plan to use the private market to buy up $1 trillion in toxic assets.Writing in the New York Times today, Krugman viciously slams the plan on the economics and issues, but also admits that the plan fills him "with a sense of despair."From his NYT op-ed: But the Geithner scheme would offer a one-way bet: if asset values go up, the investors profit, but if they go down, the investors can walk away from...Read Full Story
What He Won For: The Nobel Committee cites Paul Krugman's "analysis of trade patterns and location of economic activity." But there's been a bit of grumbling that his award may also have something to do with his strident anti-Bush rhetoric over the past eight years, both in public and in his column in the New York Times.His original research sought to explain why trade imbalances between rich countries and poor countries wasn't as high as predicted by most economic models. He was also...Read Full Story
Paul Robin Krugman (born February 28, 1953) is a professor of economics and international affairs at Princeton University and a columnist for the New York Times. He won the 2008 Nobel Prize in Economic Sciences.