9/17/2008

While the U.S. Treasury, the Federal Reserve and other organizations are scrambling to deal with ongoing financial crises plaguing markets and threatening the broader economy, columnist David Leonhardt questioned when someone would tackle the underlying problems. He used the government's rescue of Chrysler in 1979 as an example of how such a move works in the long run. Leonhardt also wrote that recent moves by policymakers, such as not rescuing Lehman Brothers, are offering some hope, but much more needs to be done.

Related Summaries