Quote – Joseph Stiglitz, Economist and Nobel Laureate, speaking to Occupy Wall Street protesters in Zuccotti Park on October 2, 2011.

You are right to be indignant. The fact is the system is not working right. It is not right when we have so many people without jobs... It is not right that we are throwing people out of their houses when we have so many homeless... [Our financial markets are] supposed to allocate capital, manage risks. But they misallocated capital, and they created risk. We are bearing the cost of their misdeeds. There's a system where we've socialized losses and privatized gains. That's not capitalism; that's not a market economy. That's a distorted economy, and if we continue with that... we won't succeed in creating a just economy.

"Memo To The Media: It’s Not ‘Anti-Capitalist’ To Protest An Industry That Was Saved By Trillions Of Taxpayer Dollars," by Zaid Jilani

Monday, October 3, 2011