The Lords of Finance Liaquat Ahamed on precisely what happened in 1920s depression:
- ………..in the 1920s who made grave mistakes and led the world to the Great Depression — was one that called it an “autopsy of a generation” of policymakers and their follies. Ahamed says “autopsy” is a reasonably good description.
- “It is about a group of men who made terrible blunders...they killed their patients...I don’t know if it is so much an autopsy as an inquest, but I don’t disagree with that generally.”
- Ahamed feels Federal Reserve chairman Ben Bernanke has done a good job lately. “Listen, he is like a doctor who allowed his patient to do all the wrong things: smoke, eat fattening foods, and then when the patient had a heart attack, he started doing the right things,” he says
Read the full interview here.
My earlier post is here.