Not to put too fine a point on it, that’s one reason I’m so concerned about the Obama administration’s bank plan. If, as some of us fear, taxpayer funds end up providing windfalls to financial operators instead of fixing what needs to be fixed, we might not have the money to go back and do it right.
And the lesson of Ireland is that you really, really don’t want to put yourself in a position where you have to punish your economy in order to save your banks.
Chicago.- La economía global continúa experimentando una "turbulencia inusual", lo que refuerza la importancia de las iniciativas para aumentar la educación financiera, dijo el presidente de la Reserva Federal de Estados Unidos, Ben Bernanke.
Bernanke hizo el comentario en una grabación breve preparada para una conferencia de la Fed de Chicago sobre educación financiera.
How we leave that bankrupt culture behind and get to “something good” will be as much a factor in our recovery from this Depression as the fate of the unemployment rate and the Dow.
But my sense is that policy makers are still thinking mainly about rearranging the boxes on the bank supervisory organization chart. They’re not at all ready to do what needs to be done — which is to make banking boring again.
Part of the problem is that boring banking would mean poorer bankers, and the financial industry still has a lot of friends in high places. But it’s also a matter of ideology: Despite everything that has happened, most people in positions of power still associate fancy finance with economic progress.
Can they be persuaded otherwise? Will we find the will to pursue serious financial reform? If not, the current crisis won’t be a one-time event; it will be the shape of things to come.
While the world talks about new ways to save struggling banks, there are a handful of economists who think some banks shouldn't be saved at all. American economist James Galbraith told Manager Magazin that it might make more sense to break them up and start over.
“They are firms that are being the good guys here.”
"Dalla crisi deve, e può, uscire un'Italia più giusta. Facciamo della crisi un'occasione per impegnarci a ridurre le sempre più acute disparità che si sono determinate nei redditi e nelle condizioni di vita ; per riformare un sistema di protezione sociale squilibrato e carente ; per elevare, a favore dei figli delle famiglie più modeste, le possibilità di istruzione fin dai primi anni e di ascesa nella scala sociale".
A medida que emergen más detalles, resulta más claro que la forma en que Washington manejó el plan de rescate de Wall Street no es solamente incompetente: bordea lo delictivo.
Es falso que la libertad absoluta de los mercados, en tiempos de globalización, produzca automáticamente bienestar para todos en la sociedad. Antes de terminar el año 2008 se ha acabado este mito. Menos mal. Su aplicación estaba causando mucho daño. No sólo estaba ensanchando la brecha entre ricos y pobres. También estaba haciendo pedazos el planeta, el barco único en el que todos navegamos. El calentamiento global es una manifestación de esto.