Word: frankels
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Calling the current economic downturn the “worst financial crisis since the Great Depression,” Jeffrey A. Frankel, a Kennedy School professor in capital formation and growth, warned against a potential long-term depression, such as the one that Japan experienced in the 1990s...
...former advisor to President Clinton, Frankel also said that the high rate of mortgage defaults was caused in part by the wish of every American to own a house, a desire which both political parties encouraged...
Jeffrey A. Frankel, an economist at the Harvard Kennedy School, said he supported the bill after it was revised over the weekend, citing the importance of congressional oversight and a provision for taxpayers to recoup part of any gains made by the government through the trading of distressed assets...
...said Congress will likely pass some version of the bill because he said that the markets are likely to continue to decline in the coming weeks. A failure to pass the bill, Frankel said, could further injure an already-ailing economy...
...Rogoff and Frankel both said that the Fed is best positioned to walk the tightrope between encouraging future risky behavior by intervening too much, and potentially damaging the financial system by intervening too little...