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Clinton Jokes About Putin, Supports 'Bad Bank'

submitted by Farhad2000

1 decade 5 years 3 months 1 week ago

At the 2009 World Economic Forum, former President Bill Clinton jokes about Vladimir Putin's comments on free enterprise. Clinton then defends creating a 'bad bank' -- though he doesn't favor the term -- to spur economic stimulus.

2 Comments

jwray

says...

Bailing out banks is just welfare for the rich -- Don't buy the banks or subsidize them, just create a properly run competitor to them and ramp up subsidies for the poor (to reduce the mortgage default rate and increase demand across the board).

yaroslavvb says...

Giving money to the poor won't solve the underlying problem -- the fact that credit markets are frozen up. This means that there's no money for investment. You could subsidize the poor, and that would fuel spending, but it's investment that adds real value to the economy, not spending.