In-depth analysis on Credit Writedowns Pro.

Jamie Galbraith: Stimulus not enough

James Galbraith, a well-known professor at the University of Texas-Austin, has joined Paul Krugman in declaring Barack Obama’s nearly $800 billion stimulus plan too small. Below is a video from the Wall Street Journal explaining why the stimulus is not enough and what needs to be done with the banking plan.

You should note that Galbraith uses the term “reorganise” instead of nationalisation when talking about what needs to be done with big banks that are insolvent.

About 

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.