Saturday, August 29, 2009

Financial MisSystem is Getting Worse!

The financial missystem is getting worse.

We are not handling the "Too Big to Fail problem" as per Stanley Fischer, Ben Bernanke's thesis advisor at the MIT. (He also was a vice Chairman at CitiBank and is now the governor of the Bank of Israel)

He says that the problem is worse now than before as the bink banks are bigger. Joseph Stiglitz, a Nobel Prize earning economist, is complaining too.

This is why we need the Share Economy and I talk more about and in general on Do we really need a financial system?

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