Bill Moyers | How Power and Influence Helped Big Banks Rewrite the Rules of Our Economy (VIDEO)

Do yourself a favor and witch this instead of American Idol this week…

Big banks are rewriting the rules of our economy to the exclusive benefit of their own bottom line. But how did our political and financial class shift the benefits of the economy to the very top, while saddling us with greater debt and tearing new holes in the safety net? This weekend on Moyers & Company (check your local listings), Bill Moyers talks with former Citigroup Chairman John Reed and former Senator Byron Dorgan to explore a momentous instance: how the mid-90’s merger of Citicorp and Travelers Group and a friendly Presidential pen — brought down the Glass-Steagall Act, a crucial firewall between banks and investment firms which had protected consumers from financial calamity since the aftermath of the Great Depression. In effect, says Moyers, they put the watchdog to sleep.

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3 Responses to “Bill Moyers | How Power and Influence Helped Big Banks Rewrite the Rules of Our Economy (VIDEO)”
  1. readdocs says:

    The focus of this needs to be redirected back to the federal government which started this mess with
    the CRA written and passed back in the early 1980s.
    The focus needs to be redirected back to 1993 when the law was expanded, which allowed marxist
    groups such as ACORN to terrorize all banks, accusing them of redlining with the tax payer backed
    government paying their way. Then this opened the door of deregulation for the banks to become as
    corrupt as the federal government which started this crap.
    Theres NO way the banks could have done this on their own…they needed aid and abetting from the
    ruling elites running the federal government.

  2. Bobbi Swann says:

    Amen! I’ve said it before and I will keep on sayin’ it: the biggest mistake was repealing the Glass/Steagall Act! Maybe, hopeully, Bill Moyer can bring this to light and Occupy can help make some changes to bring it back!

    • lvent says:

      Our biggest mistake was ever trusting the politicians….THE REASON WE ARE ALL HERE IS BECA– USE CONGRESS SNUCK IN THE FEDERAL RESERVE IN THE MIDDLE OF THE NIGHT AND USURPED THE U.S. CONSTITUTUON!

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