Stephen Roach's Pivot to China
This week on our Masters in Business radio podcast, we speak with Stephen Roach, the former chief economist at Morgan Stanley and now a fellow and lecturer at Yale University.
In a wide-ranging conversation, Roach discusses the role of the Federal Reserve in helping to both foster the credit crisis as well as rescue the financial industry from its own follies. He gives former Fed Chairman Ben Bernanke mixed grades for his performance (bad precrisis, good post), and is especially critical of Bernanke's predecessor, Alan Greenspan. Roach credits Jonathan D. Spence’s "The Chan's Great Continent: China in Western Minds" with changing his perspective on China, where he lived for 3 1/2 years. The discussion is an education in how economic analysis can be used in disciplined investing.
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