Barry Eichengreen - renowned professor of Economics and Political Science at the University of California Berkeley, former senior advisor to the IMF, author of “Globalizing Capital: A History of the International Monetary System”, and editor of “Rescuing our Jobs and Savings: What G8 Leaders can do to Solve the Global Credit Crisis” - provides a detailed overview of the financial crisis. He discusses at length: (a) the excessive risk undertaken by a variety of financial institutions as a …
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July 17th, 2009 at 12:44 pm
How many of these “professors” are there out there? The economic mess was caused by regulation, not by not having enough of it. For example, the banking industry is the most protected, subsidized, privileged, and, yes, regulated industry on earth. Government regulation guarantees a large bank a dominant position forever. If they make bad bets, they become “too big to fail” and get you and me to pay for them. This academic is selling the myth of benevolent government control. Its all theft.