Tuesday, September 15, 2009

For all Obama's talk of overhaul, the US has failed to wind in Wall Street

With a blank cheque from taxpayers and no real reform the perverse incentives for risk-taking are bigger than ever

Joseph Stiglitz
guardian.co.uk, Monday 14 September 2009

"What went wrong? Have the right lessons been learned? Could it happen again? The anniversary of the Lehman Brothers' bankruptcy and the freezing of the credit markets that followed is an occasion for reflection. I fear that our collective response has been mistaken and inadequate – that we may just have made matters worse......."

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