As Bloomberg notes:Federal Reserve Bank of Dallas President Richard Fisher called for an international pact to break up banks whose collapse would threaten the financial system, a position that goes beyond other Fed officials.While the international as…
Posts Tagged ‘Stanley Fischer’
Debunking the “Too Big To Fail” Myth
October 13th, 2009 |
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As MIT economics professor and former IMF chief economist Simon Johnson points out today, the official White House position is that:(1) The government created the mega-giants, and they are not the product of free market competition(2) The White House n…
The Real Reason the Giant, Insolvent Banks Aren’t Being Broken Up
October 3rd, 2009 |
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Why isn’t the government breaking up the giant, insolvent banks?We Need Them To Help the Economy Recover?Do we need the Too Big to Fails to help the economy recover?No.The following top economists and financial experts believe that the economy cannot r…
Top Economists Say We Must Break Up the Insolvent Banks (Government Says Let’s Make Them Bigger)
September 11th, 2009 |
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The following top economists and financial experts believe that the economy cannot recover unless the big, insolvent banks are broken up in an orderly fashion:Nobel prize-winning economist, Joseph StiglitzNobel prize-winning economist, Ed Prescott De…