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New Treasury Plan Weakens Crucial Wall Street Accounting Rules
Politics on HuffingtonPost.com —
... But propping up banks on the backs of taxpayers is both costly and unnecessary, according to Nobel Prize-winning economist Joseph Stiglitz. "There is no equity, in some sense, in these banks, and so the whole objective here is to hide what is really going on," he said in an interview with Talking Points Memo. ...
New Treasury Plan Weakens Crucial Wall Street Accounting Rules
The Huffington Post | Full News Feed —
... But propping up banks on the backs of taxpayers is both costly and unnecessary, according to Nobel Prize-winning economist Joseph Stiglitz. "There is no equity, in some sense, in these banks, and so the whole objective here is to hide what is really going on," he said in an interview with Talking Points Memo. ...
Turn and face the strange
The Sideshow —
... some poor guy they've been holding at Guantanamo and torturing is a terrorist suspect because he read a satirical article: "Written by Barbara Ehrenreich, the publication's food editor, Rolling Stone journalist Peter Biskind and scientist Michio Kaku, it claims that a nuclear weapon can be made 'using a bicycle pump' and with liquid uranium 'poured into a bucket and swung round'." This is the state secret the Obama administration wants hidden. Here's that short Stiglitz interview from TPM. (Also: Time to stop believing in President Ninja.) ...
It’s time to nationalize the banks
The Moderate Voice —
... As Nobel economist Joseph Stiglitz argues: the banks are already insolvent and just don’t want to admit it. If the housing market dropped one percent more, those 18-28 billion would fall to zero and the gig would be up officially. ...
Stiglitz Reality Check: Banks Fail All The Time (VIDEO)
The Huffington Post | Full News Feed —
... Propping up banks on the backs of taxpayers is both costly and unnecessary, according to Nobel Prize-winning economist Joseph Stiglitz. In reality, banks fail all the time, and there's no reason for the government to save them. ...
Stiglitz Reality Check: Banks Fail All The Time (VIDEO)
Politics on HuffingtonPost.com —
... Propping up banks on the backs of taxpayers is both costly and unnecessary, according to Nobel Prize-winning economist Joseph Stiglitz. In reality, banks fail all the time, and there's no reason for the government to save them. ...
Nationalization Very Scary
Talking Points Memo —
... As Joe Stiglitz says (and many other do too) it really is a zero sum. How much do the investors pay for and how much do the taxpayers pay for? ...
Why Are We Still At This?
Talking Points Memo —
... from the banks at prices pretty close to the high prices the banks want to believe they're worth rather than the much lower prices that a lot of economists (and let's remember, the market) say they're worth. So, if it's such a bad idea, why do we keep coming back to it.
I posed this question to Joe Stiglitz back in early February. And this is what he said ...
You can see the rest of our Stiglitz interview here.
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