Now, try to take this image out your mind. This is how I see these banks in their current form. My question is, do leeches produce any blood? What value does a bloated financial sector has in the economy? I would say, it is a negative value. Volker agrees with my take. (via NY Times): […]
Finally the only economist on this planet who has really succeeded in battling dire economic conditions with a series of tough measure is having his say in regulating US financial institutions. The following is an excerpt from Mr. Volker’s interview with the Financial Times on Feb 11th. Excerpts: “The implication for Goldman Sachs or any […]
