Bank Bailout News Video: From The World Economic Forum at Davos, Nobel Laureate Joseph Stiglitz Discusses 'Bank Management Stupidity'
Feb 15, 2009 at 2:21 PM
DailyBail in Bank Bailouts, Federal Bankruptcy, TARP, bad bank, bailout video, bank bonus, cds, fucked taxpayer, government bailout, joseph stiglitz tells the truth, taxpayer, undefined, wake up Obama

This is a 7 minute clip from the recent World Economic Forum at Davos.  Nobel Economics Laureate and former chief economist at the World Bank, Joseph Stiglitz tells the truth about the government bailouts.  He touches on everything from AIG, to CDS, leverage on wall street, the bad bank proposal and our burgeoning national debt.  It's great watching, not wonkish, and very easy to follow. 

Higlights: bad bank is cash for trash, aig is a never-ending black hole, and stupid bankers and their leverage made this crisis much worse. 

These are all points we have been making here on a daily basis, and it's helpful for our sanity to learn that Stiglitz is of the same mind.  Attention Obama: get Stiglitz on your team quickly, your opportunity to fix the banks fades daily as more taxpayers discover that your plan is nothing but Bush Paulson 2.0.


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