Stiglitz, who supported President Obama’s huge stimulus package back in October 2008, wrote an op-ed four months later blasting the administration’s policy on banks.
“[It's] a win-win-lose proposal: the banks win, investors win — and taxpayers lose,” he said, describing the administration’s policy as “ersatz capitalism, the privatizing of gains and the socializing of losses.”
Tags: Barack Obama, Unemployment
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