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Joseph Stiglitz: Bankers Made Reckless Bets on the Economy, Knowing Taxpayers Were Going to Pick up the Tab

The Nobel Prize-winning economist argues the banking industry "failed in their core societal function," helping lead to the great economic crash of '08.

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AlterNet will be publishing a two-part excerpt from Freefall in the days ahead.

Zach Carter is an economics editor at AlterNet. He writes a weekly blog on the economy for the Media Consortium and his work has appeared in the Nation, Mother Jones, the American Prospect and Salon.