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By Erich Vieth on September 15th, 2009
Financial crisis: NOT fixed
Have we “fixed” the problem that lead to the financial collapse of the U.S.? Not at all, according this article in Bloomberg.
Joseph Stiglitz, the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc.
“In the U.S. and many other countries, the too-big-to-fail banks have become even bigger,” Stiglitz said in an interview today in Paris. “The problems are worse than they were in 2007 before the crisis.”
