Joseph Stiglitz - Bail Out Homeowners, Not Banks December 9, 2008

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Complete video at: http://fora.tv/2008/11/14/The_Financial_Crisis_US_Economy_and_New_Administration

Economist Joseph Stiglitz argues that the U.S. government should address the mortgage crisis by providing aid directly to homeowners, rather than to the financial institutions holding their mortgages.

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James K. Galbraith discusses the history leading up to the recent economic collapse, and suggests how the American government can get back on its feet.

Then, a panel of leading experts headed by Joseph Stiglitz tackles the issue, and discuss the challenges facing the Obama administration in managing the financial crisis.

They argue that its implications run well beyond the US economy to concerns about international security.

Joseph Stiglitz was chief economist at the World Bank until January 2000. Before that he was the chairman of President Clinton's Council of Economic Advisers. He was awarded the Nobel Prize in economics in 2001. He is currently a finance and economics professor at Columbia University. He is the author of Globalization and Its Discontents and The Roaring Nineties.