Sunday, October 4, 2009

Janet Tavakoli with Max Keiser on Debt in the Financial System

Janet Tavakoli is an expert on derivatives. The link here is for her discussion with Max Keiser about the debt still in our financial system.
http://www.creditwritedowns.com/2009/10/janet-tavakoli-on-fraud-derivatives-and-bankruptcy.html

The point of her comments mirrors remarks made by Steve Keen, the Australian economist. The financial system and the economy cannot recover until the debt choking the system is eliminated. Citizens cannot pay down their debt while their wages decline.

Debt forgiveness is the only viable way forward for a quick and robust recovery.

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