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Let banks fail, says Nobel economist Joseph Stiglitz

The Government should allow every distressed bank to go bankrupt and set up a fresh banking system under temporary state control rather than cripple the country by propping up a corrupt edifice, according to Joseph Stiglitz, the Nobel Prize-winning economist.


By Ambrose Evans-Pritchard in Davos
Last Updated: 8:29AM GMT 02 Feb 2009

Posted in News.

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