Saturday March 28, 2009
Reform Is Needed. Reform Is in the Air. We Can't Afford to Fail.
Joseph Stiglitz
The Guardian
The task is to build a new financial architecture. If we flunk it, the pain will strike most cruelly in the world's poorest countries.
The financial crisis that began in America's sub-prime mortgage market has now become a global recession - with growth projected to be a negative 1.5%, the worst performance since the Great Depression. Even countries that had done everything right are seeing marked declines in growth rates, and even deep recessions. And much of the most acute pain will be felt by developing countries.
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Posted in: by bubblejam at 08:41 PM | Comments (0) | Email This Entry