Simon Johnson & Paul Kiel Talk About Bank Bailouts
Watch ProPublica reporter and bailout bird dog Paul Kiel talk to Simon Johnson, former chief economist at the IMF and currently an MIT economics professor and Baseline Scenario contributor, about the current financial crisis. Johnson expounds on his recent article in The Atlantic, explaining how Wall Street and Washington, D.C., have come together to form the “most advanced oligarchy” in the world, why the stress tests on the nation’s biggest banks fall short, how he thinks nationalization will take place, and why we’re most likely to suffer an “L” shaped recovery.
The episode is available here and at BloggingHeads.TV. Enjoy!
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