While the New York Post and others blame Wall Street executives for the credit crisis, Scientific America and rival Discover both blame the rocket scientists that Wall Street employed, who created the exotic financial instruments, notes ClusterStock.
Meanwhile, Charles Calomiris, the Henry Kaufman professor of Financial Institutions at Columbia University's business school, is angry at Hank Paulson, telling Deal Journal that the bailout plan to save the economy is "Truly idiotic."
The man that President-elect Barack Obama will rely on to pick up where Paulson left off, treasury secretary nominee Tim Geithner, received some drubbings already over his role so far in the bailout from The New York Times' Andrew Ross Sorkin, but The Atlantic Monthly's economics blogger Megan McArdle dislikes the pick for an entirely different reason: She prefers stability at the Federal Reserve Bank of New York.
On the subject of the Times' DealBook column, Portfolio's Felix Salmon suggests that the story gives Geithner's old boss at Treasury, Larry Summers, director of the National Economic Council who will function as Obama's intermediary between the president and Cabinet members, some authority to possibly keep a leash on his old protege.
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