PAUL KRUGMAN: One of History's Great Financial Crises

March 14, 2008
PAUL KRUGMAN: One of History's Great Financial Crises

The next steps will be up to the politicians.

I used to think that the major issues facing the next president would be how to get out of Iraq and what to do about health care. At this point, however, I suspect that the biggest problem for the next administration will be figuring out which parts of the financial system to bail out, how to pay the cleanup bills and how to explain what it's doing to an angry public.