USAToday, March 11, 2010 page 3B

Professor Joseph Stiglitz of Columbia University said: "So far, the administration and congressional responses are both inadequate."

"There is a real question of the capacity of our democracy to deal with the big issues. Northing is being done. The next crisis will almost inevitably follow if we don't make the reforms. We're not out of the woods and the economy is still very weak.

One out of four homeowners are underwater. They remember that something was wrong."

I taught in Guangzhou,China in 1992-1993 when Joseph Stiglitz gave his lecture around the same period.

I have reason to believe that readers are able to draw conclusions from the views of Professor Stiglitz, a top scholar and an independent judge of the state of US economy.

Francis Shieh a.k.a. Xie Shihao on March 11, 2010 at 2.46 p.m.