Paul Krugman

@paulkrugman ↗

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Last Checked Aug. 7, 2022

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Sat Jul 09 14:28:29 +0000 2022

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Paul Krugman @paulkrugman

The thing is, this free-for-all of hype and scams briefly created a $3 trillion asset class. Where were the regulators? I suspect that when the full story comes out, it's going to involve not just ignorance but a fair amount of corruption 3/ https://t.co/xfGl7NGs2F — PolitiTweet.org

Posted July 9, 2022

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Paul Krugman @paulkrugman

It's right there at the top. Brainard in effect suggests that in addition to the dotcom-ish hype, crypto has the worst elements of shadow banking — "innovation" that's less about doing something productive than about evading prudential regulation 2/ https://t.co/YauZlKe8lq — PolitiTweet.org

Posted July 9, 2022

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Paul Krugman @paulkrugman

Brainard is probably right in saying that crypto hasn't gotten big enough — or leveraged enough — to pose major systemic risks. But a lot of people have been financially ruined thanks to the failure to rein this thing in earlier 4/ — PolitiTweet.org

Posted July 9, 2022