BY FROMA HARROP Clarence the angel has a tough job in “It’s a Wonderful Life.” He must show the suicidal George Bailey what terrible things would have happened had he not been born. Two prominent economists are playing Clarence to the multitudes who believe that forceful government intervention during the financial meltdown should never have been. Using econometric models, Alan Blinder and Mark Zandi argue that the bailouts, the stimulus and other extraordinary actions saved […]
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