[ExI] How do we construct workable institutions and ethical behaviors?

[Darren Greer]

On Tue, Dec 13, 2011 at 2:11 AM, Kelly Anderson <kellycoinguy at gmail.com>wrote:

>
>
> There is also an HBO special by this name. will watch it...
>
>
>

The special is based on the book. It's pretty good also, but of course with
much less detail about the financial dirt than the book. If I was to have a
complaint, it would be that Sorkin, and the film-makers, let Hank Paulson
off too easily. It always struck me as suspect that he, as former head of
Goldman, would let Lehman Brothers fail, who was Goldman`s biggest
competitor. Sorkin explains that his motivation was to send a message that
the government would not be bailing out Wall Street, but then was forced to
anyway when AIG threatened to go under. Although Sorkin does not say this,
the bailouts were in fact a good idea. Most of the T.A.R.P. money has been
repaid. It kept the system from collapsing. And the whole mess cost less
than 1% of the GDP, which is far less, percentage-wise, than the savings
and loans fiasco under Reagan.

>
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