Oops. I forgot to link to this Q&A with University of Chicago economist Raghuram Rajan on Time.com when it went up. Here is it now.
Rajan made a big splash at Jackson Hole back in 2005 when he stood up in front of a room full of prominent economic policy makers and gave a speech about all the risk that was building up in the financial system. He said we could be headed for real problems. The crowd scoffed. But of course he was entirely right.
Rajan now has a new book out in which he argues that in the post-crisis clean-up we're failing to understand many of the underlying dynamics that led to collapse"”and that as a consequence the global economy is still under threat. You can read more here.
Thanks, Barbara. Pardon my cynicism but too many financial people seem to make their careers (and secure futures) based on ONE correct call. For example, the '87 crash "?made' Jim Cramer and Elaine Garzarelli because they bet the right side "¦or in Jim's case (and he admits it) his future wife made the right call and he was smart enough to listen and do something about it. . Of course, journalism is famous for creating a media starlet (and deservedly so) from a writer's one big story: WoodStein / Watergate, McLean / Enron, even recent TIME example of Tumulty (while still here) / health care reform (cover piece about her brother's HC issues). Nice deal, actually. Just think, Barbara: write that ONE story and it leads to TV, books, financial security, more traffic / comments at this blog, yes? Maybe it's how to create jobs in this crappy no-hiring market or digging up more dirt on Moody's. Have a good weekend.
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