Willem Middelkoop attacks Nout Wellink at P&W
Journalist and entrepreneur Willem Middelkoop warns in his new book, "Surviving the Credit Crisis," that the current credit crisis cannot be solved by providing even more credit. He's referring to the billions of euros pumped into banks by governments to keep them afloat. This is merely a stay of execution, according to Middelkoop. As long as the financial system doesn't implement significant reforms, the risk of a new crisis will remain high. In his previous book, "When the Dollar Falls," published in 2007, Middelkoop already warned that it wasn't a question of if, but when our financial system would collapse.