Op-Ed Contributor - No, Really, the Fundamentals of the Economy Are Strong - NYTimes.com

Op-Ed Contributor - No, Really, the Fundamentals of the Economy Are Strong - NYTimes.com:

"THE Treasury Department is now thinking about using some of the $700 billion it has been given to rescue Wall Street to buy ownership stakes in American banks. The idea is that banking is so central to the American economy that the government is justified in virtually nationalizing much of the industry in order to save us from a potential depression.

There are two faulty assumptions here. First, saving America’s banks won’t save the economy. And second, the economy doesn’t really need saving. It’s stronger than we think."