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Thread: Krugman

  1. #1
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    Default Krugman

    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???????????????
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  2. #2
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    Four days of consulting is eternal damnation?

    In early 1999, Krugman served on an advisory panel (including Larry Lindsey and Robert Zoellick) that offered 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 rules regarding conflicts of interest, when he accepted the Times's offer to become an op-ed columnist.[190] 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, the fee was "rather low compared with my usual rates", which were around $20,000 for a one-hour speech.[190] 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]
    When the story of Enron's corporate scandals broke two years later, Krugman was accused of unethical journalism, specifically of having a conflict of interest.[192][193][194] Some of his critics claimed that "The Ascent of E-man," an article Krugman wrote for Fortune magazine[195]about the rise of the market as illustrated by Enron's energy trading, was biased by Krugman's earlier consulting work for them.[190] 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] Krugman noted his previous relationship with Enron in that article and in other articles he wrote on the company.[190][196] Krugman was one of the first to argue that deregulation of the California energy market had led to market manipulation by energy companies.[197]
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

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    Quote Originally Posted by Buzz View Post
    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.

  4. #4
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    Quote Originally Posted by Buzz View Post
    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 . 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 .
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    Marvin S

    Everyone's friend is No One's friend

    Someday your life will flash before your eyes. It's your responsibility to make sure it's worth watching!

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