Economist Joseph Stiglitz calls for an unemployment Powell doctrine, urging "overwhelming force"...

|By:, SA News Editor

Economist Joseph Stiglitz calls for an unemployment Powell doctrine, urging "overwhelming force" be used to combat 10% joblessness. He says the February $787B spending package was too small and risks a vicious cycle of deceleration, and that banks aren't restructuring home loans because they're still allowed to carry them at face: "I call that marking to hope, not marking to market."