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’Stiglitz takes down Nama
Spotted over in the Long Room — Joseph Stiglitz’s 44-page takedown of Ireland’s Nama.
But it’s not for the reasons you might think.
The Nobel-prize winning economist thinks Ireland’s National Asset Management Agency is able — and incentivised — to underpay for bank loans.
[The Lehman Anniversary] Quotes du crise
FT Alphaville presents a selection of visionary — and not so visionary — quotes from the Lehman crisis.
To start, Dick Fuld, CEO of Lehman, on October 6, 2008:
I’m not sure I would say it was a house of cards .
Another day, another dollar debate
Columbia University professor and Nobel Prize-winning economist Joseph Stiglitz is the latest commentator to weigh in on the debate about the dollar, saying Friday that the US currency’s role as a good store of value is “questionable”
Quote du jour, economist dining edition
From a Newsweek article titled “Prisoners of the White House“:
In fact, Paul Krugman seems a little bit testy about the contents of his dinner (conversation).
Global currency, it COULD happen
Who would have thought, even a couple of months ago, that calls for a global currency might be taken seriously as a solution to the current financial crisis?
Yet, the concept is gaining incredible momentum.