Let banks fail, says Nobel economist Joseph Stiglitz - Telegraph

Let banks fail, says Nobel economist Joseph Stiglitz - Telegraph: "Mr Stiglitz's radical proposal is a 'Chapter 11' scheme for households to allow them to bring their debts under control without having to go into bankruptcy. 'Families matter just as much as firms. The US government can borrow at 1pc so why can't it lend directly to poor people for mortgages at 4pc. ,' he said"