Dylan Ratigan interviews David Stockman about Bernanke's lack of success as Federal Reserve Chairman and about the banks' role in bringing down the economy. The banking system needs to be revamped by restructuring or by writing down the banks' debts. A debt problem needs to be approached by allowing a correction in the banking system rather than a bailout according to Stockman. For example, when Goldman Sachs was insolvent in 2008, it should have been allowed to collapse. Paulson and Bernanke and Wall Street saw the crisis as a world-wide phenomenon when actually it was the banks themselves that were in a crisis of their own making.
David Stockman: Ben Bernanke Is Finished!
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*As defined in Wikipedia