http://www.infowars.com/?p=4895#comment-559713
A short term solution is not going to work
The anemia is from the people not the market
And the market won't run without the people!
There is no need
Joseph Stiglitz: Bailout Scam “Monstrous”
Zogby International
September 26, 2008
Economy Nobel Prize Joseph Stiglitz last weekend said that the current bail out plan for the U.S. financial sector would be “monstrous” for US taxpayers.
“This plan is nothing else but a short term solution,” said Stiglitz in a Sunday interview with Germany’s Frankfurter Allgemeine Sonntagszeitung (FAS). “We’re turning risk investment funds into the hands of taxpayers,” pointing out that since no private investor wants to take responsibility for “risk investments, we’re simply wall papering them on to the taxpayer, and this is monstrous”.
According to Stiglitz the current crisis marks the end of a “disastrous economic model” and the end of the ideology “by which free and deregulated markets always function.” As a consequence of the current situation the US financial system as well as the US government “has lost all credibility.”
