There was an interesting panel today in New York featuring Paul Volcker, Joe Stiglitz, and Robert Mundell. It’s lengthy, but worth watching. Kudos to Barry for the find.
click for video
Teresa Tritch, a member of the board of editors of the New York Times, moderates. Heidi Hartman, president of the Institute for Women’s policy research, and Marina Whitman, a professor at the University of Michigan, also speak.
00:00:00 Tritch introduces roundtable participants.
00:01:28 Mundell: current crisis vs. Great Depression
00:05:33 Mundell: need to reduce corporate taxes
00:08:05 Volcker: financial crisis "without precedent"
00:14:48 Volcker: rebuild U.S. banks from "ground up"
00:19:56 Stiglitz: "long, deep downturn" in economy
00:21:34 Stiglitz: government response, bank rescue
00:33:30 Questions: Volcker, Mundell on world currency
00:44:29 Participants on fiscal stimulus, U.S. deficit
00:57:55 Stiglitz on government regulation, innovation
01:00:46 Volcker, Mundell, Stiglitz on global currency
01:07:18 Participants make summary remarks.
Running time 01:19:59
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I don't think Stiglitz is being too hard on Paulson. Policy makers should listen to his critique, then read stuff like this – http://www.bloomberg.com/apps/news?pid=newsarchiv…- and realize he needs to be replaced ASAP. It can't wait for January. His conceptions are inadequate to the situation.
I can't wait to see this video, but I'm not sure it is still on Bloomberg's server. Am I missing something? It doesn't seem to play properly.
Matt