Nobel Laureate Stiglitz on the Administration’s Ersatz Capitalism
April 01, 2009 at 22:29 PM EDT
Nobel laureate in economics Joseph Stiglitz writes in The New York Times that Treasury Geithner’s $500 billion or more proposal to fix America’s ailing banks, described by some in the financial markets as a win-win-win situation, it’s actually a win-win-lose proposal: the banks win, investors win — and taxpayers lose. The Treasury, argues the professor of [...]