Saturday, March 6, 2010

Stiglitz says Federal Reserve Undermines Democracy

Stiglitz, Nobel Prize Winning Economist, says Federal Reserve System 'Corrupt.' So reads the headline in the Huffington Post. An article on the economist's statements is also on George Washington's Blog.

Stiglitz is quoted in both articles as saying "If we [i.e. the World Bank] had seen a governance structure that corresponds to our Federal Reserve system, we would have been yelling and screaming and saying that country does not deserve any assistance, this is a corrupt governing structure."

Wow, that can't be good for the ruling oligarchy.

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