A Rational Man: Do we need this?
Henry Paulson: Yes, I need this.
A Rational Man: I said “we”.
Henry Paulson: And I said “I”.
A Rational Man: What will this do? Honestly, I’m a Rational man, thus I have no vote.
Henry Paulson: Maybe, maybe might unfreeze the interbank market.
A Rational Man: But will this save us from recession?
Henry Paulson: No.
A Rational Man: But will this lead to massive inflation?
Henry Paulson: Almost certainly.
A Rational Man: And what about the unknowable second order effects, or third order effects, or x order effects?
Henry Paulson: I ignore them.
A Rational Man: So this bailout is a longshot to do anything positive and it increases the downside risk if it doesn’t work?
Henry Paulson: That is what our math tells us.
A Rational Man: Is this socialism?
Henry Paulson: No, this is necessary.
A Rational Man: Do we need this?
Henry Paulson: Yes, I need this.
A Rational Man: I said “we”.
Henry Paulson: And I said “I”.
A Rational Man: What will this do? Honestly, I’m a Rational man, thus I have no vote.
Henry Paulson: Maybe, maybe might unfreeze the interbank market.
A Rational Man: But will this save us from recession?
Henry Paulson: No.
A Rational Man: But will this lead to massive inflation?
Henry Paulson: Almost certainly.
A Rational Man: And what about the unknowable second order effects, or third order effects, or x order effects?
Henry Paulson: I ignore them.
A Rational Man: So this bailout is a longshot to do anything positive and it increases the downside risk if it doesn’t work?
Henry Paulson: That is what our math tells us.
A Rational Man: Is this socialism?
Henry Paulson: No, this is necessary.
