Anybody who has watched government from the inside recognizes that governments need institutions, need ways to respond to crises.
Joseph StiglitzFinance ministers and central bank governors have the seats at the table, not labor unions or labor ministers. Finance ministers and central bank governors are linked to financial communities in their countries, so they push policies that reflect the viewpoints and interests of the financial community and barely hear the voices of those who are the first victims of dictated policies.
Joseph StiglitzIt is unlikely that others would even demand their money back overnight, for doing so would lead to the value of the dollar plummeting; what they would get back with be worth little. But what we are already seeing is an erosion of confidence of the dollar, which is seeing the dollar fall in value.
Joseph StiglitzIf the President asked you to help, I don't think anybody could refuse, unless one felt that one couldn't be effective.
Joseph Stiglitz