What went wrong? Have the right lessons been learned? Could it happen again? The anniversary of the Lehman Brothers' bankruptcy and the freezing of the credit markets that followed is an occasion for reflection. Full Story »
Posted by Derek Hawkins - via The Guardian (US), Real Clear Politics
Stiglitz comes down hard on the Obama administration's response to the financial crisis, saying it hasn't done enough to regulate banks in the wake of taxpayer bailout. Well argued, but probably over the head of a lot of readers.
Unquestionably we should not have allowed banks to become so big and so intertwined that their failure would cause a crisis. But the Obama administration has created a new ... More »
While Stiglitz cites no other sources than himself, and doesn't offer much that is new or surprising, the fact that he's saying it has some news value--due to his stature in the economic community.
there's not enough detail in this article based upon looking back with criticism of both obama's and the previous administration for not reacting quickly with greater regulation. but his arguments are very generalized without specificity. quite different from the forbes article on lehman.
Retrieving Comments
