Now that blind faith in unfettered markets, by the likes of Alan Greenspan and a generation of free market hot shots, looks fatally misguided — who can we trust?
How about Henry Kaufman — the Wall Street sage who predicted back in 1990 that we’d pay a heavy price for Wall Street’s recklessness. Back then he was known as Dr. Doom, but he was right.
This hour, On Point: Henry Kaufman’s plan for a new economic era, and his faith that this too shall pass.
You can join the conversation. Are you feeling this economic downturn? Are you worried about the future? Do you see hope on the horizon? Share your thoughts.Guest:
Henry Kaufman joins us from New York. He is president of Henry Kaufman & Company, Inc., an economic and financial consulting firm. He spent 26 years at Salomon Brothers, most recently as managing director, and was a key player on Wall Street in the 1970s and 1980s. His dire economic projections earned him the nickname “Dr. Doom.” He's the author of "On Money and Markets: A Wall Street Memoir."
This program aired on October 29, 2008.