Stiglitz: Bank Problems Are Worse Now

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Uploaded by on Sep 16, 2009

Nobel Prize-winning economist Joseph Stiglitz says the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers.
In an interview with Bloomberg news, Stiglitz, a former chief economist at the World Bank and member of the White House Council of Economic Advisers, said: In the U.S. and many other countries, the too-big-to-fail banks have become even bigger. The problems are worse than they were in 2007 before the crisis.

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  • duh!

    america had 5 publicly traded investment banks. they were over 100 years old. they survived wwi and wwii. now we have none left. this is a big deal.

    america is dead for sure.

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