Economist James Galbraith: Bailed-Out Banks Should Be Declared Insolvent

Economist James Galbraith: Bailed-Out Banks Should Be Declared Insolvent
Host: Amy Goodman
Democracy Now



With estimates of the cost of addressing the financial crisis exceeding $9.7 trillion, we speak with economist and University of Texas professor James Galbraith, author of The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too. Galbraith says rather than pouring billions into propping up troubled giant banks, the government should declare them insolvent.

To Listen to the Interview