Low Bank Capital Is Next Fiscal Crisis: Simon Johnson
This article is for subscribers only.
(Corrects reference to banks financing with debt ratherthan equity in 10th paragraph)
Aug. 1 (Bloomberg) -- The summer debate that has dominatedWashington seems straightforward. Under what conditions shouldthe U.S. government be allowed to borrow more money? The numbersthat have been bandied about focus on reducing the cumulativedeficit projection over the next 10 years, as measured by theCongressional Budget Office.