{"id":10429,"date":"2009-04-23T00:00:00","date_gmt":"2009-04-23T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"us-bailouts-wont-work-says-nobel-winner","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/04\/2009\/us-bailouts-wont-work-says-nobel-winner.html","title":{"rendered":"US bailouts won&#8217;t work, says Nobel winner"},"content":{"rendered":"<p>Moneycontrol.com &#8211; Joseph Stiglitz, a professor at the Columbia University and the 2001 Nobel Prize winner, said the US government&rsquo;s bailout packages designed for financial institutions may not work. &ldquo;It is a peculiarly-structured programme,&rdquo; Stiglitz said, &ldquo;The government puts in 92% of the money, the private sector walks away with 50% of the profits and the government absorbs almost all the losses. What kind of partnership is that?&rdquo;  <\/p>\n<p class=\"MsoNormal\">The Nobel Prize winner said the financial system in the US engaged in too much risk-taking. &ldquo;If you are a bank too big to fail, you have a one-sided bet. If you win, you walk off with the profit. If you lose, you are too big to fail, so the government picks up the losses.<\/p>\n<p><strong><a href=\"..\/news\/news_land.php?i=http:\/\/www.moneycontrol.com\/india\/news\/economy\/us-bailouts-wont-work-says-former-nobel-winner\/394725\" target=\"_blank\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Moneycontrol.com &#8211; Joseph Stiglitz, a professor at the Columbia University and the 2001 Nobel Prize winner, said the US government&rsquo;s bailout packages designed for financial institutions may not work. &ldquo;It is a peculiarly-structured programme,&rdquo; Stiglitz said, &ldquo;The government puts in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[3847,8506,185,1301,129,48,10772,3658,5507,6277,123,86,10773],"class_list":["post-10429","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-bailout","tag-bet","tag-columbia-university","tag-financial-institutions","tag-losses","tag-money","tag-moneycontrol-com","tag-nobel-prize-winner","tag-partnership","tag-private-sector","tag-profits","tag-risk","tag-us-government"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=10429"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10429\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=10429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=10429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=10429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}