Krugman

Lays out the dilly with the market issues these days. Now I understand very little of this, so I can't necessarily agree with this article, but it does make sense to consider that the creation of newer money market options created some products that... well... blew up in the investors' faces. I think one of the most glaring truths about this in contrast to the earlier post on Chavez is the difference between innovation that helps people and innovation that is in design made to hurt people. What is good for the market isn't always good for the investor and it probably takes a blow like the recent housing bubble to finally prove that to people. Still, discovering that our current Fed Chairman "required a face-to-face refresher course from hedge fund managers in mid-August" is a little scary. You mean, even the glorious Fed Chaiman, the successor of the great Greenspan doesn't understand the market innovation well enough? How in god's name could any of us have a chance?