Homeworks - banking system failed and financed the national...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Current Events: Taxing Wall Street Down to Size. The writer of the article is for huge taxes on big banks and thinks that banks have created this recession. To correct the problems caused by the banks, the Federal government has taken a strict monetary policy where the interest rates are almost 0 percent. According to the author of the article, banks are profiting off the monetary policy and making the profits from getting zero-interest loans. Because of the bad investments the
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: banking system failed and financed the national debt. According to Stockman, the banks getting loans at 0 percent is going to fuel the next bubble or financial crisis. Throughout the article Stockman against big banks. He is very upset that the federal government is giving loans to the banks at almost zero percent interest. http://www.nytimes.com/2010/01/20/opinion/20stockman.html...
View Full Document

This note was uploaded on 07/21/2010 for the course ECO 001 taught by Professor Melkonian during the Spring '10 term at Hofstra University.

Ask a homework question - tutors are online