Ifo Institute’s Sinn launches Kasino-Kapitalismus on banking crisis

May 19th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
It's an ill wind that doesn't blow somebody good and the publishing industry is ramping up output on the crisis. The American banking system is in ruins. Germany’s banks are limping along. In Eastern Europe a time bomb is ticking. Whole countries are about to go bankrupt. One of Germany's best known economists, Prof. Hans-Werner Sinn, President of the Ifo Institute for Economic Research at the University of Munich explains in his his book - - Kasino-Kapitalismus (Casino Capitalism: How the financial crisis came about and what needs to be done)  - -  how the financial system became a playing field for gamblers and analyses the reasons for the crisis: the failure of the rating agencies, the regulating officials, the banks and not least American real-estate policies. He also presents a master plan for rebuilding the financial market.

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