Steven Pearlstein on All Topics
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“Nationalization doesn't make the bad loans go away -- it simply moves them from the banks to the government, with the government on the hook for any additional losses.”
“Tens of trillions of dollars in wealth have been lost. All that's left is simply an elaborate exercise in settling up the accounts.”
“What we are facing is the economic equivalent of a war ... It's a war we can win, but only if we have leaders and opinion makers who commit to difficult sacrifices.”
“Washington may have turned up late and well-fortified to this recession, but there's no doubt now that it has arrived.”
“There are times when it's necessary to make things worse in order to make them better.”
“The essential insight of Barack Obama has been to see that these problems are inextricably linked.”
“If allowed to continue, this kind of financial protectionism will set the European economic project back a generation and suck all of Europe into a deep recession.”
“It would be premature to declare that all of this adds up to a new model for American-style capitalism”
“The coming battle over health-care reform is likely to be every bit as vicious and divisive as the one that defeated the Clinton health plan.”
“How is it that Kim Price ... somehow managed to come up with a more creative use for his government bailout money than any of you?”
“Spending is stimulus, no matter what it's for and who does it.”
“It will ... require a commitment to shared sacrifice and mutual responsibility that we are only beginning to understand.”
“The Pfizer-Wyeth deal offers a wonderful opportunity for a new administration in Washington to signal the end of the era of anything-goes mergers.”
“With all this conflicting advice, it's no wonder nobody can figure out what to do.”
“Ask not whether government is too big or too small but whether it works.”
