'Will Wall Street reforms fix the US economic problem?' [Inside-Out © PressTV]
- Uploaded by Knewtube on Aug 21, 2012
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Kevin Foster and Howard Chernick.
In the wake of the recession that devastated the global economy, the United States is looking to see what went wrong.
The 2007 financial collapse cost millions of Americans their job, burst the housing bubble and also tackled big financial institutions causing a ripple effect on failed businesses across the country and around the world.
It is now widely believed that Wall Street is hampered by loose-lending standards, cheap credit, risky investments, lack of regulation and poor practices of many rating agencies and financial institutions.
These issues make the financial industry unsustainable. So, will the Wall Street reforms fix the current problem? Who do we blame ultimately for the collapse in 2007? And were the bail outs really the right solution to the financial crisis?
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