Globe 100 | The Big Think

Rogoff: Stop the financial bleeding

Solution will include accelerated bankruptcy for some financial institutions

“We need to put most of the major financial institutions through accelerated bankruptcy. We're not going to get normal lending until we do that.”

Kenneth Rogoff, Harvard professor

on the financial system

By Kenneth Rogoff

May 19, 2009

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When you have a recession associated with a financial crisis, you don't get better unless you fix the financial system. The medical analogy is giving transfusions to a patient who's hemorrhaging. If you don't fix the hemorrhage, you can put in all the blood you want. (Full article: 311 words)