People & Power: Citizens Taking On The Banks And Fighting For Financial Reforms

[Turborama]

Run time: 24:01 https://www.youtube.com/watch?v=a6KTZKlQ5HQ   Posted on YouTube: December 18, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: December 21, 2009 By DU Member: Turborama Views on DU: 905

 
The opportunity for reform of the US financial system is probably greater now than at any time since the Great Depression.

But a year after the economic meltdown, temperatures are rising in the US over President Barack Obama's proposals to reform Wall Street.

Central to his effort to revamp the US financial system is his call for a new Consumer Financial Protection Agency to prevent the lending practises that cost millions of Americans their homes, brought banks to their knees, and set the stage for the 'Great Recession'.

The banks and the financial services industry are pulling out all the stops to defeat the establishment of a new agency to protect consumers.

But with as many as 3.5 million new home foreclosures expected in 2010, citizens are taking to the streets and public pressure to regulate powerful financial institutions is growing.

People & Power's Bob Abeshouse investigates the potential for reform, and what the banks have done in the past year in return for the billions they received to bail them out.

This episode of People & Power aired from Wednesday, December 16, 2009.

http://english.aljazeera.net/programmes/peopleandpower/2009/12/20091219225445399509.html

[chill_wind]

1. K & R. Bill Moyers had a good segment on this earlier this month.

Coverage of the protests in Chicago in October

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=103&topic_id=502408&mesg_id=502408

This is a pretty active citizens' org of about 200 coalitions getting organized and growing:

http://ourfinancialsecurity.org/

[tiredtoo]

2. Well let's see if Obama and the Democrats let the financial lobbyists write this bill

EOM

[Vermontgrown]

3. There's know

doubt that nothing will get done. The repukes will look at it as a way to change America by making the left look bad and the left will be crippled by a wing that is too divided to make the right moves. You see in Washington it's business as usual, they have a job so, really they don't care. The Only thing I can see, is for men to pick up their rifles and march down to Washington and make the reforms the hard way. War on the rich is coming like a freight train and Washington is the cause.