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To: koan who wrote (89527)	10/31/2008 11:20:58 PM
From: Sr K	Respond to of 116555

>>remember Black Friday, when stock markets plunged almost 25 percent<< The Stiglitz article is terrific; I only read the first half or so. But he doesn't remember October 19, 1987 which was a Monday, when the DJIA fell 22%.

To: koan who wrote (89527)	11/1/2008 4:00:08 AM
From: Haim R. Branisteanu	Respond to of 116555

Unfortunate Stiglitz offers no clear solution and babbles along socialist lines. The only true solution, is eliminating "self regulation" and impose government laws and regulation and eliminating all kind of loopholes that avoid transparent accounting and public accountability of corporation and its management. Another fault in his babble is the lack of criminal liability for those messing around with public funds – including public corporation – a corporate manager team or fund manager should not only be responsible for performance and gain if he got it right – he should bear the risk if he got it wrong and lost public money – e.g. stock goes to ZERO for bad decisions. There are some credible measures to be taken which I proposed on SI or other forums long ago but then again his suggestions are not a solution that he can predict the outcome in a democratic society