“There are so many people who think that if we get our financial markets back to health, the economy will recover. Its probably necessary, but its clearly not going to be sufficient…Even after our banks are repaired they are not going to be lending in the irresponsible way they did before the crisis. We wouldnt want them to.”
204Stiglitz On Bank Bailout: “We Got A Bad Deal” VIDEO
Aug 5th, 2009 by doug carmichael
Banks don’t loan money until they have a reasonable feeling the economy will recover. They will sit on the money and current good loans and wait.