Lee E. Ohanian

"The government is doing what it can. They've learned the lessons of the 30s. And the lesson of the 30s was to put ideology aside and do whatever you can to bail it out," New York Times Chief Financial Correspondent Floyd Norris said in an Oct. 8 video on the publication's Web site entitled "Echoes from a Dismal Past." "I agree with you," economics reporter Louis Uchitelle said, also…

According to one UCLA economist, the U.S. is economically sound, but people have panicked because of "scary" warnings surrounding the $700 billion bailout. "Periods of crisis often beget bad policies," Lee E. Ohanian, an economist at the University of California, Los Angeles (UCLA) said in an interview with Reason.tv. The professor stressed that six weeks ago the fundamentals of the economy…