Joseph E Stiglitz Predicted what

Nobel Laureate Joseph E Stiglitz says in his interview in the Business Standard, that he and Paul Krugman (this year's Nobel Prize winner for economics) was predicted the present world financial crisis.

“You saw this coming and had also warned the government...

Yes, some economists like Paul Krugman (this year's Nobel Prize winner for economics) and I had predicted the crisis at least three years ago. Sadly, the government didn't listen to us.”

But the facts remains uttered what was their prediction? Whether they predicted the exact bust or just kidding us, it might be the later one. Who did and what went wrong is also very important to inform the people and the nations around the world.