“We basically had a $10 trillion shadow banking system shrivel up and die. Having the Fed add $700 billion to its balance sheet, or whatever it is by now, is not enough to make up for that.” – Paul Krugman, Nobel prizewinning economist
THE MONEY CULTURE : ‘Depression Economics’ – Nobel Prize-winner Paul Krugman on America’s financial crisis
By Daniel Gross | Newsweek Web Exclusive
Dec 3, 2008 | Updated: 12:22 p.m. ET Dec 3, 2008
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