This is an insightful interview that takes a hard line on the financial crisis and also manages to actually use the word bankster.
When people ask us who we’d like to see in positions of financial responsibility such as Treasury Secretary in the Obama Administration, we have three simple tests:
First, the ideal candidates should not have been involved in formulating the financial rescues and bailouts of the past 18 months.
Second, ideal candidates may never have worked for Goldman Sachs (NYSE:GS).
And third, the ideal candidates should not be economists or at least among that tendency of economist who believe that markets are efficient and complete, that people are rational and that supporting concepts like OTC derivatives and fair value accounting are good and practical public policies.
