Mandel: It's Not a Crisis of Confidence

The real problem with the economy is that long accepted patterns of cross-border technology transfer, trade, and finance are simply unsustainable

Is the market and economic turmoil nothing more than a crisis of confidence? To listen to Ben Bernanke and Hank Paulson, you might think so. "At the root of the problem is a loss of confidence by investors and the public in the strength of key financial institutions and markets," Bernanke told the Economic Club of New York on Oct. 15.

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