Joseph Stiglitz : TARP Returns a Drop in the Bucket Compared to Damage Done

Columbia Professor and Nobel Prize-winning economist Joseph Stiglitz to TechTicker in an interview taped at The Economist's Buttonwood Gathering: "The fact some of the banks paid back what was given to them on very favorable terms...is just a drop in the bucket compared to damage done to the economy," Stiglitz says "If the U.S. government had provided money to ordinary business at zero interest rates what would our economy be like?," Stiglitz wonders. "What we did is give zero rates to banks, they then lent at much higher interest rates; that's the recapitalization. That's the gift."