Joseph Stiglitz: The financial crisis is the fruit of dishonesty on the part o... - The Diigo Meta page

• 17 Nov 11
  

  aeroeau

  Joseph Stiglitz economy financialmarkets US_presidential_elections_08 financial_crisis politics news us_economy stiglitz

• 30 Sep 08
  

  Jaakko Helleranta

  Economy news politics financialmarkets stiglitz US_presidential_elections_08 us_economy financial_crisis imported_from_delicious_2009-10-07

• 

  Economy news politics financialmarkets stiglitz US_presidential_elections_08 us_economy financial_crisis

• 29 Sep 08
  

  Tarmo Toikkanen

  Dishonesty in the finance sector dragged us here, and Washington looks ill-equipped to guide us out

  2008 economy critique

  • The present financial crisis springs from a catastrophic collapse in confidence.
  • Financial markets hinge on trust, and that trust has eroded.
  • The crisis in trust extends beyond banks. In the global context, there is dwindling confidence in US policymakers.
  • America's financial system failed in its two crucial responsibilities: managing risk and allocating capital.
  • It was all done in the name of innovation, and any regulatory initiative was fought away with claims that it would suppress that innovation. They were innovating, all right, but not in ways that made the economy stronger. Some of America's best and brightest were devoting their talents to getting around standards and regulations designed to ensure the efficiency of the economy and the safety of the banking system. Unfortunately, they were far too successful, and we are all - homeowners, workers, investors, taxpayers - paying the price.

  3 more annotations...

• 16 Sep 08
  

  Jon Clegg

  economics economy

• 

  Eldis Community

  Says Joseph Stiglitz

  eldisnews import:23_03_11

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