Nobel economist Joe Stiglitz, in an interview with Chris and me in Paris on August 28, 2011.
The advisers that they had, economic advisers, partly because they were complicitous in the creation of the crisis, these were people who were involved in deregulation, wanted to believe that the economic downturn was more limited than it really was. So they were more optimistic about the economy so they thought less was needed than was really needed. And the President evidently wasn’t willing to fight in a way that he might have had to fight for the kind of stimulus that the economy really needed.
John Aravosis @aravosis | Facebook | Google+. Editor of AMERICAblog, joint JD/MSFS from Georgetown, worked in the US Senate, World Bank, Children's Defense Fund, and as a stringer for the Economist. A frequent TV pundit, he has been on The O'Reilly Factor, Hardball, World News Tonight, Nightline & Reliable Sources. Full bio and article archive.
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