I believe his book 'The World is Flat' could have caught your attention while you were browsing around for a weekend read. I will not introduce him further. Enjoy this 48min video.
Back in the 80s, when the US government had to deal with a crisis where the Resolution Trust Corporation, which is a holding company formed and housed within the Treasury, to deal with distressed real estate that was funded by loans and savings, the strategy was deemed a sucess where it was later reused by the HK and Indonesian government during the asian financial crisis. This indeed managed to give immediate liquidity and confidence to the markets during such turbulent times. In addition, this came as a win-win situation for the governments, because as these distressed assets were bought in a 'fire-sale' price, which was significantly cheaper than its face value, the governments made profits from such transactions, where in today's case, the similar situation applies. The target of this plan for the purpose of restoring order in the banking system, so banks will remain confident to lend, as well as to free up funds for further lending and use when the economy grows. Afte...
Comments
I read Friedman's "The World is Flat" only recently amidst the ambiance of despondency set in by the recession. Friedman seems to be sanguine giving an impression that everything would fall in place because the world has flattened and whatever has not been so, they will in due course. Time vindicated otherwise.
Otherwise the book is a page-turner. A general purpose book has been presented with the readability of a fiction. It is highly informative, cogently argued and it leaves impact on the readers.
I've reviewed the book on my blog. You may have a look.
Thanks
Nanda
http://ramblingnanda.blogspot.com