Liveblogging VI

Obama picks up on using the questioner’s name.

Explains what a credit crunch means: companies can’t get credit, can’t meet payroll, have to shut down. Had to bail out, shouldn’t have been there in the first place

Have to correct McCain’s history, not surprisingly. Problem was dereg. McCain was for it, I warned about the consequences. McCain’s campaign manager’s firm was a lobbyist for Fannie. But you’re not interested in politicians’ quarrels. SecTreas has the power to buy up an renegotiate mortgages, hasn’t been using it.

Brokaw to Obama: Are you saying that things are going to get much worse? Obama: No, not if we respond correctly. McCain says the same.

Author: Mark Kleiman

Professor of Public Policy at the NYU Marron Institute for Urban Management and editor of the Journal of Drug Policy Analysis. Teaches about the methods of policy analysis about drug abuse control and crime control policy, working out the implications of two principles: that swift and certain sanctions don't have to be severe to be effective, and that well-designed threats usually don't have to be carried out. Books: Drugs and Drug Policy: What Everyone Needs to Know (with Jonathan Caulkins and Angela Hawken) When Brute Force Fails: How to Have Less Crime and Less Punishment (Princeton, 2009; named one of the "books of the year" by The Economist Against Excess: Drug Policy for Results (Basic, 1993) Marijuana: Costs of Abuse, Costs of Control (Greenwood, 1989) UCLA Homepage Curriculum Vitae Contact: Markarkleiman-at-gmail.com