What should economists and policymakers learn from the financial crisis?
Speaker(s): Dr Ben S Bernanke, Olivier Blanchard, Professor Lawrence H. Summers, Axel A. Weber Chair: Professor Sir Mervyn King Recorded on 25 March ...
Amazing to hear them all wax lyrical about Mervyn King, his huge intellect
and incredible ability to model, predict and manage the economy. Well,
wasn't this the same man who didn't even see the financial crises about to
happen, even as late as 2007! Hard to believe..... Markets are often
propped up by confidence. Well, if this is their attempt to boost the
perception and confidence in the Masters of the Central Banks, it laughable.
Interesting that Blanchard talks about a "third leg" of interventionist
policy:macroprudential policy. The tendency that I have here is to equate
the policy with Fannie Mae and Freddie Mac, but the policy has larger
applications than that (see: Cyprus's attempt to control it's way out of
financial panic)
how the hell were these guys central bankers, head economists at IMF etc!
Basicially admitting they didnt know what they were talking about before
2008. sounds like theyre still in the dark.
we should learn that if any one of the people speaking had to invent a
product and run a real profit making business..
they'd be living under a bridge by Friday.
This is amazing. Shouldn't these guys be in jail? They created the crisis
and now they are talking about it with no sense of guilty or regret.
Incredible.
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