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From the Eurozone to Wall Street, bad loans are good business for bankers.

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Right now most of the debt is owed to official creditors – meaning governmental agencies like the European Central Bank, the EU and the IMF. They bailed out the lenders. So somehow we’re seeing it as appropriate that the borrowers have to pay a big price, but the lenders are let off the hook.

Economist Dean Baker challenges the selective morality of Eurozone economics, then digs into TPP drug price politics and the financial expert bubble.

Dean has been writing about debt, austerity and the future of the Eurozone in the articles Greece Does Battle With Creationist Economics: Can Germany Be Brought Into the 21st Century? and Will the United States End Up Like Greece? The Risks of the Trans-Pacific Partnership for Truthout.

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Dean Baker

Dean Baker is co-director of the Center for Economic and Policy Research.

 

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