Quote of the day

Where only so much credit is due:

“Preventing the collapse of the financial system should probably seen as being comparable to a major league outfielder catching a long fly ball. It’s not that easy, but major league outfielders do it.”

Dean Baker, taking issue with the NYT’s contention that Tim Geithner and Larry Summers have gotten too little credit for preventing an all-out financial collapse in the USA.  Baker points out that no major country saw its financial system collapse in this crisis, so the US performance in this regard was nothing special by today’s standards.

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