Mr. Krugman is halfway smart: he is an economist who understands some of the dangers of the Floating Currency. But he doesn’t go after ‘free trade’ or he would lose his perch at the NYT, I guess. But yesterday, he took off after the ‘Three Musketeers’: Greenspan, Rubin & Summers. This is because the dumb trio pretended to be too stupefied to foresee the very obvious housing and buy-up bubbles. In his editorial, Mr. Krugman mentions a very interesting Time Magazine article from 1999.
It is important for us to read this old article. It is full of information about the Asian Currency Crisis that tells us exactly why Greenspan, Rubin and Summers should all be kept far, far away from any monetary policy making positions and Greenspan, arrested for fraud and reckless endangerment of an economy.
Krugman - Lest We Forget - NYTimes.com
http://emsnews2.wordpress.com/2008/11/29/three-stupid-geniuses-greenspan-rubin-summers/