[Marxism] theses on the economic crisis

Rakesh Bhandari bhandari at berkeley.edu
Sat Nov 28 21:36:37 MST 2009

If credit targets are made and then not met, there will only be calls 
for use of the discount window (see TAF and TALF), direct injections of 
banking capital, and greater use of the GSE's (Fannie and Freddie). If 
such policy responses to meet credit targets fail to get credit flowing, 
then some (conservatives) will say that fiscal and monetary policy were 
so aggressive as to have reduced confidence while others (liberals) will 
say that it was not aggressive enough to restore confidence. This will 
not soon be understood as a crisis of capitalism.

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