George Washington’s Blog
Friday, Feb 6, 2009
Former fed chair Paul Volcker, TARP bailout overseer Elizabeth Warren and Nobel economist Joseph Stiglitz all slammed the government’s approach to the economic crisis today:
“Perhaps the entire strategy is flawed? Perhaps what is needed is a fundamental rethinking. The Paulson-Bernanke-Geithner strategy was … based on a failure to grasp some of the fundamental changes in our financial sector since the Great Depression, and even in the last two decades.”
Will Bernanke, Summers and the other people who got us into this mess keep on steering the ship over the waterfall? Or will the powers-that-be start to listen to those telling where we are, and start steering away before it is too late?
This article was posted: Friday, February 6, 2009 at 4:59 am