Joseph E. Stiglitz : « 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 . Economist says it 's time to consider government takeovers of weaker banks .
Joseph E. 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 . Economist says it 's time to consider government takeovers of weaker banks .