Once again, Joseph Stiglitz is offering his considerable opinion as to what needs to be done in tackling our financial crises. His current article at The Nation is both rational and sensible. Read it here and see how relatively simple his solution is. Of course, the bank lobby won't like it.
Last week ago, Institutional Risk Analytics interviewed Josh Rosner of Graham Fisher & Co and David Kotok of Cumberland Advisors, and the discussion is one of the most direct and revealing of the true political nature of the financial collapse I have yet seen. As I have written before, using reports from the Fed, FDIC, and Comptroller of the Currency, the financial problems are very tightly concentrated in a handful of the largest banks, with over 8,000 plus smaller and regional banks having declined to participate in Wall Street’s derivatives madness.
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