Joseph Arthur Stiglitz : The bank bailout has failed to restart prudent lending by banks . But long-standing economic principles can help guide us . Stiglitz says banks made reckless loans and were burned as a result . Stiglitz : They borrowed so much money that they could n't handle a downturn . He says it 's time to consider hostile takeovers of weaker banks .
Joseph Arthur Stiglitz : The bank bailout has failed to restart prudent lending by banks . Stiglitz says banks made reckless loans and were burned as a result . Stiglitz : They borrowed so much money that they could n't handle a downturn . He says it 's time to consider hostile takeovers of weaker banks .