Last week, Nobel prize winning economist Joseph Stiglitz tore apart the Obama administration’s attempts at financial rescue on Bloomberg TV.
He also tells Bloomberg that even if Goldman pays back the TARP, it will be far from a market-based company thanks to all the other aid programs it is participating. “This is not private enterprise,” he says. “This is just hidden forms of government subsidies.”
Here’s an exerpt from the interview.
The DailyBail has the full version of the video, which runs about 12 minutes.
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