Stiglitz, Nobel Prize-Winning Economist, Says Federal Reserve System &

[Greebo]

Nobel laureate Joseph Stiglitz, a former chief economist at the World Bank, said that if a country had applied for World Bank aid during his tenure, with a financial regulatory system similar to the Federal Reserve's -- in which regional Feds are partly governed by the very banks they're supposed to police -- it would have raised alarms.

"If we had seen a governance structure that corresponds to our Federal Reserve system, we would have been yelling and screaming and saying that country does not deserve any assistance, this is a corrupt governing structure," Stiglitz said during a conference on financial reform in New York. "It's time for us to reflect on our own structure today, and to say there are parts that can be improved."

http://www.marketoracle.co.uk/index.php?na...e&sid=17723

Maybe - just maybe - if a RECOGNIZED genius says it, people will start listening. I mean, we've only been saying it for decades, but why would people put reason over titles?