110. stiglitz nails it.
June 10, 2009 § Leave a comment
This is correct, so far as i can see, and points to Obama not having the power to respond. Or maybe better said, in order to govern from the center, he needs the center. But then..
America’s socialism for the rich: Corporate welfarism, by Joseph E. Stiglitz, Commentary, Project Syndicate: …America’s banks are pushing back on efforts to regulate them … The old system worked well for the banks (if not for their shareholders), so why should they embrace change? …
via Economist’s View.