| Rescuing American Capitalism
Greenberg, Maurice R.
National Interest, January/February 2010, #105, online edition
"The current crisis in the financial system was well over a decade in the making. A combination of new incentives to increase home ownership, long-term low interest rates, the taking on of increased leverage by banks, and the creation of financial products that were not properly overseen or managed led to a catastrophic economic meltdown. The question now is can we learn from this and also prevent what ended up being a disastrous handling of the crisis itself from happening again." The former head of AIG takes on the people who destroyed his company, the bankers who accepted too many bonuses and the bureaucrats trying to fix the financial system.
Maurice R. Greenberg is chairman and CEO of C. V. Starr and Company.
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B8/01-10 - Posted January 28, 2010
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