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Economist Joseph Stiglitz Analyzes Financial Crisis

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Economist Joseph Stiglitz Analyzes Financial Crisis

Joseph Stigitz’s most recent book is Freefall: America, Free Markets, and the Sinking of the World Economy.

At last year's World Economic Forum in Davos, French President Nicolas Sarkozy said in his keynote, “It's not a question of whether we need capitalism. The question is what kind of capitalism do we want?”

Economist Joseph Stiglitz agrees. Stiglitz is author of the book Freefall: America, Free Markets, and the Sinking of the World Economy. In the book, Stiglitz says of Treasury Secretary Tim Geithner's tenure at the Federal Reserve Bank of New York, “Of course, he gave speeches warning of the dangers of excessive risk-taking…but he was meant to be a regulator, not a preacher.”

Stiglitz is a professor of economics at Columbia University and the 2001 Nobel Prize-winner in economics. He's also former chief economist at the World Bank.

Jerome asked Stiglitz about the recent economic peril in Greece and Spain.

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