Nobel laureate economist Joseph Stiglitz says that despite all the government intervention since the collapse of Lehman Brothers a year ago, the financial system is no safer.
In fact, the opposite is true, he told Bloomberg.
“In the U.S. and many other countries, the too-big-to-fail banks have become even bigger,” Stiglitz maintains.
“The problems are worse than they were in 2007 before the crisis.”
Other experts share the Columbia University economist’s concerns, including former Federal Reserve Chairman Paul Volcker and Bank of Israel Governor Stanley Fischer. (more)
No comments:
Post a Comment