Joseph Stiglitz: Bank Problems Bigger Than Pre-Lehman Era

bloomberg.com:

Sept. 14 (Bloomberg) -- Joseph Stiglitz, the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc.

"In the U.S. and many other countries, the too-big-to-fail banks have become even bigger," Stiglitz said in an interview yesterday in Paris. "The problems are worse than they were in 2007 before the crisis."

Read the whole story: bloomberg.com

Comments

[terramartom]

02:10 PM on 09/14/2009

As the Titanic sinks, at the back of the ship everyone is having a Mai Tai!

[FredOCal]

01:52 PM on 09/14/2009

I haven't been on Huffpo much lately, but I can see that the partisanship overrules common sense here just like it does on the conservative leaning boards I've seen. It should be painfully obvious by now that Obama is nothing more than a shill for the banking industry after appointing Geithner and letting two architects of the deregulation in the 90's Rubin and Summers advise him. On top of that, to appoint Mr. Bernake to a second term is disturbing considering he failed to recognize the crisis. I'm also saddened that there has been no effort to repeal the disgraceful bankruptcy reform act of 2005, which sets the stage for massive debt slavery. I voted for Obama on the hope that he would have the courage to stand up to these institutions, but I honestly don't think anyone has that courage. Reagan, Bush 1, Clinton, Bush 2, and now Obama have all allowed these institutions to gain more and more power. Ironically, it was the supposedly liberal Clinton who was the worst in this regard, caving into Republican demands to repeal Glass-Steagall (which should be reinstated today) and to deregulate derivatives. The real problem that I see is while people on the left and the right argue with each other in some religious war, both parties continue to loot us. That is one of the tragedies of our current state of discourse.

[Klimb]

08:54 PM on 09/14/2009

Reagan= 8 years; Bush 1=4 years; Clinton=8 yrs; Bush 2=8yrs...just even incomparable with Obama=6.75months in office. The impatience is really amazing...what is your role in helping this POTUS achieve his campaign goals b/c he can not do it all alone...he needs his supporters and will always. The GOP have refused to compromise on any level so, where does that leave Obama? He is not a dictator and will continue to extend a hand to GOP but like Bill Maher said, he shld listen to the 70% who want change. This POTUS has been running since 01/20/09 and I just hope for his continuous strength b/c only the strong willed can stand this heat he inherited.

[FredOCal]

09:17 PM on 09/14/2009

All he has to do is to be honest. That hasn't happened yet, and the games are continuing under Obama's watch. Of course, with all the talk of green shoots, it is easy to overlook the fact that things are getting much worse. The market will crash again this fall/winter much harder than last year, and at that point, the million or so people who marched on D.C. last weekend (and who are mostly partisan hacks and just despise Obama) will have the momentum they need. And that's too bad.
The real tragedy of all of this is that as more and more people fall out of the middle class, as more and more people see their unemployment run out, and as more and more people end up starving, we will come to realize that the money that could have helped them went to fund a phony year of "less bad".

[OffTopic1]

01:09 PM on 09/14/2009

Chace Haynes I'm a Fan of Chace Haynes 39 fans permalink

you are the tr0ll. here with your divisive attitude, unable to talk facts, and unable to respond with anything other than insults. You are the same as the teabaggers...and maybe worse, because you should know better love.
-->>>>>
Chace Haynes I'm a Fan of Chace Haynes 39 fans permalink

thanks baby...whatever it takes to disrupt peoples silly little belief systems.
-->>>>>
Chace Haynes I'm a Fan of Chace Haynes 39 fans permalink

There is no circle except in your head. What do you disagree with? Debate or look ignorant baby.

->>>>>

Thanks for putting your complete hypocrisy out there for all to see.

------->>>>>>

[AsianAfricanAMERICAN]

01:11 PM on 09/14/2009

Just the typical Republican that wants to shout everybody down...hypocrisy be dayumed.

[Chace Haynes]

01:17 PM on 09/14/2009

Baby...I protested the Bush regime in its entirety. I am a liberal community organizer. You have No idea to whom you speak. Just because I dont agree with obama...you get all freaky...sad you are

[Chace Haynes]

01:19 PM on 09/14/2009

You are late to the dance, and have no idea what you speak of or to whom love. Perhaps you would like to tell us how Obama's economic policies differ from Bush's??

[OffTopic1]

01:26 PM on 09/14/2009

The main difference so far (we are 8 months in) is that he addresses the issues whereas
Bush literally ran away from them. It's a start. I have issues with the bailouts as well as his economic advisors but it is to soon to pass judgement.
I am also dissapointed he hasn't addressed the $$ in lobbying in a strong fashion.

That said, I am still happy I voted for him, and in the long run I think he will prove
that it was the right vote.

[foxinretreat]

01:07 PM on 09/14/2009

Unbelievable r@c,,ist trolls are getting through on AH's locked down main.

[AsianAfricanAMERICAN]

01:09 PM on 09/14/2009

Wow!

[OffTopic1]

01:13 PM on 09/14/2009

I have come to the conclusion it is a m0derat0rr doing the p0sting.
Only thing that makes sense.

[BlaineNelson]

01:05 PM on 09/14/2009

Are you optimistic or pessimistic about the near future?

http://www.youpolls.com/details.asp?pid=6139
.

[OffTopic1]

01:14 PM on 09/14/2009

I'm always optimistic as pessimism breeds failure.

[RoseanneRoseAnnadanna]

01:02 PM on 09/14/2009

Golf calling ...

I'm out - Have A Great Day Everyone!!!!

seeya after the 19th hole ...

[AsianAfricanAMERICAN]

01:04 PM on 09/14/2009

have fun...we got these two teabaggers.

[BlackDynamite]

01:06 PM on 09/14/2009

Peace!

[BlackDynamite]

01:01 PM on 09/14/2009

Triple A, Whazup!

[AsianAfricanAMERICAN]

01:02 PM on 09/14/2009

Wazzzup Dynamite...glad you're back to being a regular.

[BlackDynamite]

01:04 PM on 09/14/2009

I try. Looks like they're biting today!

[siasina]

01:11 PM on 09/14/2009

Seriously lol what planet do you two live in?

[AsianAfricanAMERICAN]

01:13 PM on 09/14/2009

One where people are friendly and treat each other with respect. And you...?

[Strega]

01:18 PM on 09/14/2009

Seriously, that was uncalled for!

[swengnikaerb]

12:56 PM on 09/14/2009

Chace Haynes I'm a Fan of Chace Haynes I'm a fan of this user 39 fans permalink
and you...all you do is is whatever groupthink here tells you. If you can not answer questions that are asked, then you are here to disrupt and antagonize...and that makes you a tr0ll. kisses..toodles

Reply Favorite Flag as abusive Posted 12:48 PM on 09/14/2009
*************
Wow, is anyone else picturing MsLindsey Graham, complete with rhinestone ballet flats and Grandman's pearls?

Sweet hissyfit, madame.

[RoseanneRoseAnnadanna]

12:57 PM on 09/14/2009

"complete with rhinestone ballet flats and Grandman's pearls?"

don't forget the tutu and glow in the dark boa ..

[Chace Haynes]

12:59 PM on 09/14/2009

you should see my nails love.

[AsianAfricanAMERICAN]

12:57 PM on 09/14/2009

he has completely meltdown...

[Chace Haynes]

01:15 PM on 09/14/2009

...melt(ed) down...nah, but you dear one, rendered incapable of answering the simplest of questions, have had to resort to blathering.

[RoseanneRoseAnnadanna]

12:55 PM on 09/14/2009

wow ... i feel like the prettiest girl at the dance.

[lornejl]

12:56 PM on 09/14/2009

Rightly so...

[RoseanneRoseAnnadanna]

12:57 PM on 09/14/2009

awe shucks ... (nice to see you back)

[RoseanneRoseAnnadanna]

12:59 PM on 09/14/2009

chace desperately wants my attention ...

[Chace Haynes]

01:06 PM on 09/14/2009

I have it. And still you are unable to show us how Obamas economic policies are any different than Bush's. And still we wait. But you will not answer because there is no meaningful difference. So...you remain, clueless in a land of your own imagining, clinging to a madality, that has not only gone out of fashion, but is destroying the fabric of society. cheers.

[NWRICK]

12:52 PM on 09/14/2009

http://www.youtube.com/watch?v=uQYDvQ1HH-E

Later.

[greatlardini]

12:55 PM on 09/14/2009

see ya Rick!

[Chace Haynes]

12:57 PM on 09/14/2009

adios.

[TiffanyHusseinBanned]

12:51 PM on 09/14/2009

Joe Wilson's outburst was an example of O's reverse r@cism.

[lornejl]

12:54 PM on 09/14/2009

They have been keeping the white man down in the south for years now.

Joe won't put up with that nonsense any more.

[TiffanyHusseinBanned]

12:57 PM on 09/14/2009

D@mn right.

[AsianAfricanAMERICAN]

12:47 PM on 09/14/2009

Chace Haynes I'm a Fan of Chace Haynes 39 fans permalink

He gave them $$$ they did not want to take...by signing 1 sheet of paper, with no rules governing it...A Trillion $$$'s with no account. That would have paid for healthcare..

-------------------------------------------------------------------------------------------------------------------------------------------
So we are going in circles now? Roseanne is right...why debate?

[RoseanneRoseAnnadanna]

12:48 PM on 09/14/2009

if you're going to debate the tro//s practice first ... on a tree stump!

[Tommi2]

12:51 PM on 09/14/2009

or a dining room table.

[siasina]

12:51 PM on 09/14/2009

Get a job or go back to sleep. All you do is personally attack people. You aren't better than those at town halls who shout over people.

[Chace Haynes]

12:51 PM on 09/14/2009

There is no circle except in your head. What do you disagree with? Debate or look ignorant baby.

[AsianAfricanAMERICAN]

12:55 PM on 09/14/2009

Reality: TARP was President Bush's policy...

Get there first...

[foxinretreat]

12:43 PM on 09/14/2009

Ouch...tough day in Chitown, the Bears Brian Urlacher is out for the season with a dislocated wrist. My son Laddie the Graddie is not happy, we are not talking football today since Mom is a Packer fan.

[swengnikaerb]

12:45 PM on 09/14/2009

On a lighter note from Motown, the Lions got their clocks cleaned by the Saints 47-25.

LOL where is RestoreTheRoar when we need him?

[AsianAfricanAMERICAN]

12:48 PM on 09/14/2009

He's loyal to losers...

[RoseanneRoseAnnadanna]

12:49 PM on 09/14/2009

yeah but a star was born in ann arbor ...

[lornejl]

12:42 PM on 09/14/2009

I love Russ Feingold, but his effort to reform campaign finance had zero effect.

DC is a biotch.

[foxinretreat]

12:45 PM on 09/14/2009

Russ is the real deal, unfortunately he is one of the few not bought off. He is friend's with my uncle and one of the least wealthy Senators we have.

[lornejl]

12:51 PM on 09/14/2009

He's a peach, DC is too hard a n ut to crack.

[RoseanneRoseAnnadanna]

12:41 PM on 09/14/2009

the tro//ies want me to debate them and I refuse ...

i don't feel the need to debate a doorknob either.

[AsianAfricanAMERICAN]

12:41 PM on 09/14/2009

nope...

[Chace Haynes]

12:48 PM on 09/14/2009

and you...all you do is is whatever groupthink here tells you. If you can not answer questions that are asked, then you are here to disrupt and antagonize...and that makes you a tr0ll. kisses..toodles

[Chace Haynes]

12:46 PM on 09/14/2009

you could not debate even if you did want to.

[RoseanneRoseAnnadanna]

12:49 PM on 09/14/2009

when you walk past a brick wall ... do you salute?
.

[swengnikaerb]

12:50 PM on 09/14/2009

Wow. you sure you wanna go there?