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Source link: http://archive.mises.org/8758/blatant-contradictions-from-larry-kudlow/

Blatant Contradictions From Larry Kudlow

October 13, 2008 by

In this blog post, I summarize two amazingly quick turnabouts in Larry Kudlow’s views on the bailout. Specifically, back in mid-September he was explaining why we needed to stop bailing out firms, because of the problem of moral hazard. Then, after the bailout was rejected by the House and the leaders were putting in “sweeteners,” Kudlow said he couldn’t support any plan that contained limits on executive pay.

Well, two days after that article, he came out saying how great the bailout would be for taxpayers. The fact that the plan still contained limits on executive pay apparently didn’t bother him anymore. Then, just a few days ago, Kudlow explained that Paulson needed to “recapitalize” the banks without punishing shareholders. I.e., last month’s talk about moral hazard was out the window.

{ 9 comments }

andy October 13, 2008 at 11:45 am

Who owns you Kudlow?

Roy Girella October 13, 2008 at 12:46 pm

Andy said: “Who owns you Kudlow?”

I would assume General Electric, who owns CNBC, and who was on the No Short list.

Because of the obvious conflict of interest of being on the No Short list and, as a network, cheerleading for the bailout, anything said on CNBC should be considered suspect.

Then again, this is the same network that advocated buying stocks with credit cards a decade ago.

Oil Shock October 13, 2008 at 1:29 pm

Kudlow and his contradictions always make up a good comedy.

Bill October 13, 2008 at 2:53 pm

Maybe we should award him the Nobel Prize? We can give it to him and his old buddy Kramer, hell throw in Bush or Cheney as well for the most inconsistent economic philosophies.

Pat October 13, 2008 at 3:22 pm

“Then again, this is the same network that advocated buying stocks with credit cards a decade ago.”

What?! That is the most irresponsible thing I ever heard. I mean, that is like asking a drunk teenager to operate a fully armed nuclear-powered bomber (Of course, there are responsible people, but they are rarely worth being concerned about). Although I can see the strategy behind it, their implicit assumption that people will have the money to pay for the debt on their credit cards after selling their stocks is very naive. Buffett and Co. might be able to pull that off, but others might end up in further debt.

But I digress. That is hardly surprising. Kudlow just didn’t like the first bailout. He fell in love with the second. Unfortunately, so have a lot of people in the land of media.

millard doyle October 14, 2008 at 6:55 pm

watch lawrence squim

Nenjamin December 4, 2008 at 10:07 am

Kudlow is a hypocritical hack.

http://www.youtube.com/watch?v=Lkqb1pQrCcg

kay November 16, 2010 at 11:21 am

Many times the stock market goes down when Larry Kudlow is on the air. Does he ever have anything positive to say about anyone or anything. When you are always negative, what do expect to to happen–people will respond in kind.

terry hanson August 29, 2011 at 10:43 pm

i cant believe people listen to larry kudlow. he is owned by his wallstreet buddies. ever notice he has the same people on all the time. they are all connected, each one feeding each other. he is a bought and paid for individual. i wonder how many hours he spends in front of the mirror looking at himself……………….thinking…………..yea im the man. well larry your not. you are a puppet on a string for the wallstreet boys.

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