Follow Britian's Lead

Krugman says Gordon Brown has the right idea - an equity injection - for the financial crisis. Of course, after all the hullabalo over the $700B, Paulson is now falling back on the same solution. . . glad we went through that whole exercise.

As I said, we still don’t know whether these moves will work. But policy is, finally, being driven by a clear view of what needs to be done. Which raises the question, why did that clear view have to come from London rather than Washington?

UPDATE: Krugman wins a Nobel Prize!!