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«Math is a friend of mine. There have been a number of occasions in my life when doing the math on an economic model has led me to conclusions very different from my preconceptions. But I have always been able, after the fact, to find a way to express in plain English what the math is telling me. If you resort to math to justify what looks like a very foolish claim, and you can’t find a plausible way to express that justification in plain English, something is wrong. And yes, I’ve been waiting for a while for an excuse to post that picture.» [Paul Krugman]

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"(...) What’s going on here? The answer, surely, is that Wall Street’s Masters of the Universe realize, deep down, how morally indefensible their position is. They’re not John Galt; they’re not even Steve Jobs. They’re people who got rich by peddling complex financial schemes that, far from delivering clear benefits to the American people, helped push us into a crisis whose aftereffects continue to blight the lives of tens of millions of their fellow citizens.

Yet they have paid no price. Their institutions were bailed out by taxpayers, with few strings attached. They continue to benefit from explicit and implicit federal guarantees — basically, they’re still in a game of heads they win, tails taxpayers lose. And they benefit from tax loopholes that in many cases have people with multimillion-dollar incomes paying lower rates than middle-class families.(...)"

Paul Krugman

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