Word: crisises
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Stiglitz participated in a question-and-answer session with J. Cullen Murphy Jr., the editor-at-large at Vanity Fair, as part of a book tour promoting his recent release on the financial crisis titled “Freefall: America, Free Markets, and the Sinking of the World Economy.?...
Now that Bernanke has gotten us past the crisis, inflation hawks and doves alike are trashing him for unbalancing the Fed's "dual mandate" to stabilize prices and maximize employment. The mostly right-leaning hawks rail about Helicopter Ben, Zimbabwe Ben and the Villain of the Year, whose cheap printed...
So why doesn't he do something about it? Why talk so much about the eventual need to undo his extraordinary money-easing interventions and not at all about additional interventions? The mostly left-leaning doves believe that Bernanke, as bold as he was during the crisis, is now being...
• He blew it before the crisis. This is true. Bernanke had no idea the financial system was in danger, and some of his comments look painfully ridiculous in retrospect. That said, he had a lot of company on the Clueless Express, and it's not clear how much his...
• He blew it during the crisis. This is nutty. It's easy to nitpick the AIG bailout or any of the Fed's other unpalatable decisions during the panic, but they have worked out better than anyone had any right to expect, preventing a catastrophe for a relatively paltry...