He attributes this recession to one of its symptoms, the inability or unwillingness of lenders to lend. No mention of the unprecedented credit expansion, with its attendant and rampant malinvestment, eradication of savings, consumer debt, etc.

As Bugs Bunny would say, "What a maroon!"

Oh ... and his proposed remedy is to increase unemployment insurance? Using WHAT, I wonder? More taxes on the backs of struggling Americans, or more borrowing that innocent generations will be saddled with? And those will help the economy how?

Really, there should be a process for taking back the damned Nobel Prize!