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Crisis : what you see depends on where you stand
22 septembre 2008, 00:00
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Crisis : what you see depends on where you stand
Depending on where you stand, the financial crisis has been catastrophic or brought a much needed shake out in the financial sector; it has been disastrous for home owners or proved the folly of lending to people with poor credit histories; it has rightly rolled back the clock on naked capitalism or undermined a system that, in essence, functions perfectly well; it has punished bankers? hubris or thrown many talented individuals out of work. What you see depends on where you stand. According to Italy?s economy minister, Giulio Tremonti, the current economic crisis was the inevitable consequence of policies championed by former Federal Reserve chief Alan Greenspan.
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