The insiders behind the crisis
Wednesday, April 1st, 2009Simon Johnson, the former chief economist at the IMF, has penned a marvellous article, The Quiet Coup, that is now making the rounds among policy makers and analysts. It discusses the crony capitalism that lies behind most nations’ financial crises (mainly in emerging markets and now in the US), and the difficulties in solving them. For us in India, it is a cautionary tale.