View Full Version : Krugman

Marvin S
09-30-2012, 08:00 PM
Buzz's favorite quote - was described in American Spectator as a Nobel Prize winner, NY Times Correspondent (which the MSM trumpets ) & former ENRON economic advisor ( which no one says a word about ). That in itself (to a sane person) has to destroy his credibility.

Several years back when NAIC was a functioning organization I attended one of their regional seminars, Enron had a really good looking babe as their investor relations person. I asked her how Enron could be a growth stock as it was a utility but got an unsatisfactory answer. So I went back to the stock club I belonged to at the time & asked that we sell Enron, which the club had a sizable stake in. The club membership declined & I resigned before the next meeting knowing that the principles the club should follow were not being followed.

So Buzz, tell me what makes him a credible quote??????????????? :p

10-01-2012, 12:08 AM
Four days of consulting is eternal damnation?

In early 1999, Krugman served on an advisory panel (including Larry Lindsey (http://en.wikipedia.org/wiki/Larry_Lindsey) and Robert Zoellick (http://en.wikipedia.org/wiki/Robert_Zoellick)) that offered Enron (http://en.wikipedia.org/wiki/Enron) executives briefings on economic and political issues. He resigned from the panel in the fall of 1999 to comply with The New York Times (http://en.wikipedia.org/wiki/The_New_York_Times) rules regarding conflicts of interest, when he accepted the Times's offer to become an op-ed columnist.[190] (http://en.wikipedia.org/wiki/Paul_Krugman#cite_note-EnronFAQ-189) Krugman later stated that he was paid $37,500 (not $50,000 as often reported - his early resignation cost him part of his fee), and that, for consulting that required him to spend four days in Houston (http://en.wikipedia.org/wiki/Houston,_Texas), the fee was "rather low compared with my usual rates", which were around $20,000 for a one-hour speech.[190] (http://en.wikipedia.org/wiki/Paul_Krugman#cite_note-EnronFAQ-189) He also stated that the advisory panel "had no function that I was aware of", and that he later interpreted his role as being "just another brick in the wall" Enron used to build an image.[191]
(http://en.wikipedia.org/wiki/Paul_Krugman#cite_note-190)When the story of Enron's corporate scandals (http://en.wikipedia.org/wiki/Enron_scandal) broke two years later, Krugman was accused of unethical journalism, specifically of having a conflict of interest.[192] (http://en.wikipedia.org/wiki/Paul_Krugman#cite_note-191)[193] (http://en.wikipedia.org/wiki/Paul_Krugman#cite_note-sullivanselective-192)[194] (http://en.wikipedia.org/wiki/Paul_Krugman#cite_note-EnronWP-193) Some of his critics claimed that "The Ascent of E-man," an article Krugman wrote for Fortune (http://en.wikipedia.org/wiki/Fortune_(magazine)) magazine[195] (http://en.wikipedia.org/wiki/Paul_Krugman#cite_note-194)about the rise of the market as illustrated by Enron's energy trading, was biased by Krugman's earlier consulting work for them.[190] (http://en.wikipedia.org/wiki/Paul_Krugman#cite_note-EnronFAQ-189) Krugman later argued that "The Ascent of E-Man" was in character, writing "I have always been a free-market Keynesian: I like free markets, but I want some government supervision to correct market failures and ensure stability."[190] (http://en.wikipedia.org/wiki/Paul_Krugman#cite_note-EnronFAQ-189) Krugman noted his previous relationship with Enron in that article and in other articles he wrote on the company.[190] (http://en.wikipedia.org/wiki/Paul_Krugman#cite_note-EnronFAQ-189)[196] (http://en.wikipedia.org/wiki/Paul_Krugman#cite_note-195) Krugman was one of the first to argue that deregulation of the California energy market had led to market manipulation by energy companies.[197] (http://en.wikipedia.org/wiki/Paul_Krugman#cite_note-196)

10-01-2012, 02:21 AM
Four days of consulting is eternal damnation?

Interesting, he tells why he should not have accepted the job(too little pay for one), but did anyway. I guess hindsite is 20/20 for him to.

Marvin S
10-01-2012, 12:12 PM
Four days of consulting is eternal damnation?

Buzz, life is full of one of a kind situations that branded someone for LIFE :). Ask any prostitute, when her life changing moment was, which was when she 1st charged for the act :o. I personally believe it safe to say that any association with Enron & their business model makes anyone involved even GWB as guilty of very poor judgment.

But thanks for the explanation - amazing how much info is out there if one knows which library to access :cool:.