I read this very interesting op-ed in the NY Times a little while ago and I figured I'd share. Joseph Stiglitz, renowned economist and Nobel Prize winner, lays out why he thinks the massive federal spending to purchase toxic assets is a 'win-win-lose' scenario - the loss falling on the taxpayer. The reason I found the article so interesting was because he manages to explain some very complicated and confusing economics in plain and easy to understand language. So for those of you who are confused or intimidated by terms like 'toxic assets' and 'overleveraging' I'd say this article is definitely a good read.
I promise we'll have some true lol-worthy stuff for your entertainment and edification very soon!
No comments:
Post a Comment