I hope this is an eye opener for young people with functioning brain cells who are trying to figure out what's going on instead of just focusing on getting by.
I like Nocera and agree with his openly stated views but it wasn't very smart of him to bash Hewlett Packard's board in his column while his wife was working as a lawyer against those same people.
And yet he was very smart to team up with Bethany McLean and I am looking forward to reading their book.
I always cut people who I admire a lot of slack. (Although I never cut Clinton much slack, I do cut Obama some). They're human.
Krugman once consulted for Enron, but he learned from his mistake - although I'm not clear on the details - and will write:
Or consider the California electricity crisis of 2001-2002. Years after we actually had tapes in which Enron traders could be heard telling power plants to shut down, news reports continued to repeat the conservative line that it was all about excessive regulation that wouldn’t let the power companies build capacity -- with no mention at all of the market manipulation.In the same blog post, a good reference:
Put it this way: I’ve been rereading George Orwell’s Looking Back at the Spanish War, and it feels familiar.