"Before the crisis, we were in a dream world; one in four American homeowners were under water. We had to write-down mortgages but failed. In 2010, we expect between 2-3 million foreclosures. We suspended the rules of capitalism to give more money to banks and thus undermined market discipline.
We need visions of what kind of financial system and what kind of economy we want. If our planet does not survive, a high GDP is not important.."
to hear Joseph Stiglitz interviewed by Lori Wallach, Global Trade Watch director of Public Citizen, February 14, 2010, click on