William Niskanen
William Niskanen
William Arthur Niskanenwas an American economist noted as one of the architects of President Ronald Reagan's economic programme and for his contributions to public choice theory. He was also a long-time chairman of the libertarian Cato Institute...
bush people regain sacrifice worked
Bush is going to have to sacrifice people who have worked with him to regain some initiative.
bothers
It bothers me enormously how we've responded to this problem. This is just way out of bounds.
bubble continue dollars financial housing interest invest major rates unlikely
It is most unlikely that they will continue to invest as much in dollars as they have. This is the major financial crisis. The dollar would go down. Interest rates would go up. The housing bubble would end.
brought good job wisdom
I think he's done an extraordinarily good job. I worry, however, that the wisdom he has brought to that job has not been institutionalized in the Fed.
case reagan
That was the case with the Reagan administration in 1986.
business executives ought senior worrying
That's not what senior executives ought to be doing with their time. They ought to be worrying about business decisions.
caused extent itself questions reduce volatility
An impeachment itself would reduce the uncertainty. An impeachment would take the volatility out (of the market) to the extent that the volatility was caused by questions of who would be president.
acquire companies giving incentive money rather smaller
There's too much incentive for big corporations to acquire other smaller companies and overpaying for them, rather than giving money back to shareholders.
bush dig himself hole
Bush has got a big hole to dig himself out of,
change federal plan role
The president's plan is a big change from what has been the traditional federal role in disasters.
known year
We have known about it for a year or two, and we haven't done anything.