With the financial crisis engulfing the American economy and, increasingly, the global economy, Albert Keidel joined a panel of experts on the Diane Rehm Show to discuss how the current situation arose and what can be done to move forward. He argued that America's economic woes extend beyond troubled financial instruments, and that $700 billion would not be enough to resuscitate the economy.
Keidel insisted that insolvent banks should be punished to discipline the financial system. He explained that the world is relying on an American recovery, with the exception of China, which has proven to support its own economic growth. Keidel concluded that recent events have their origins in Congressional policy during the 1990s, which "starved" regulatory agencies such as the Securities and Exchange Commission.