Economic recovery requires a sound and effective banking system. But without genuine partnership, respect and co-operation between Wall Street and Main Street, such a system is unlikely, argues Professor Fariborz Moshirian, from the School of Banking and Finance at the Australian School of Business.
Writing in the Australian Financial Review, Professor Moshirian said, in order to succeed, a US plan to purchase bad bank assets requires the full participation and support of the private sector.
A full transcript of Professor Moshirian's article is available here.
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