Word: plan
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...featured an all-star cast, including Dean of Harvard Business School Jay O. Light, Business School professor and Nobel laureate Robert C. Merton, and Ec 10 professor and textbook author N. Gregory Mankiw. The participants discussed their views on the events that led to the current crisis, the bailout plan making its way through the halls of Congress, and more extensive, permanent resolutions...
Even as economists, government officials, and Wall Street executives try to get a handle on how the economic crisis grew so large and so fast, debate has broken out over the bailout plan currently under review by Congress...
...plan is a subsidy to investors at taxpayers’ expense,” the professors wrote. “Investors who took risks to earn profits must also bear the losses...
Oliver Hart, a former chairman of the Harvard economics department, signed the letter out of a concern that the bailout plan is being created in an unnecessary rush...
...skeptical as to whether this is the right plan,” Hart said. “There’s a lot of detail missing regarding which assets will be bought and on what terms. We’re meant to trust the Treasury to enact this plan in a reasonable manner, but they want a carte blanche, and this is worrying...