"The story of how we failed to see this coming has a clear policy implication — that financial market reform should be pressed quickly, and that it should not wait until the crisis is resolved"
More than any other prominent commentator, Krugman, who will soon accept the Nobel Prize for Economics, has the right to say he saw it coming and that it would be a deep crisis when the housing bubble burst. In today's column he finally says `I told you so': "what do you mean when you say `we', whiteman?" he said a few months back to a room full of economists, etc. Here it is.
When the Nobel Committee announced the award back in October I posted kudos on the nyTimes.com site - HERE.