NY Times, 11.18, The AIG Report, Paul Krugman

Paul, you are right on target, a financial “haircut” at the minimum should have been given, the circumstances demanded shared loss by the insensitive participants. The matter of the relationships of evaluators is of primary importance in examining this economic tragedy.

The players connections to Goldman Sachs, AIG, the federal reserve, the outgoing and incoming Washington D.C. administrations, all need to be examined post mortem, hopefully by a select committee of economists and true experts, like yourself.

As you are aware, even more than most of us, the credibility of Wall Street and their major players is pathetic at a time when the nation needs a shot in the arm of honesty, foresight, apology, and integrity rebuilding. American and other nations are wondering frankly why the “wild west” moved so far East.

Thanks again for a great piece!

— Dr. Phillips