The Great American Stickup

[GoLeft TV]

Run time: 08:05 https://www.youtube.com/watch?v=0NAgPdHmVEk   Posted on YouTube: November 27, 2010 By YouTube Member: golefttv Views on YouTube: 1   Posted on DU: November 27, 2010 By DU Member: GoLeft TV Views on DU: 981

 
When you look at the root causes of our current financial disaster, they can all be traced back to the disastrous policies put in place by Ronald Reagan in his never-ending quest to appease Wall Street. But the truth is that since the day Reagan took office, we haven’t had an American president that was willing to stand up to the corrupt bankers on Wall Street, and each of Reagan’s predecessors has managed to grant every wish they made. Mike Papantonio discuss what has happened to our financial sector with Robert Scheer, author of the new book “The Great American Stickup: How Reagan Republicans and Clinton Democrats Enriched Wall Street While Mugging Main Street.”

[TheMadMonk]

1. Successors. his Predecessors PUT the lid on the banks. /nt

[Enthusiast]

4. Mike Papantonio places the entire

blame on Bill Clinton. It seems to me that Gramm-Leach-Bliley, the bill that undermined Glass-Steagal, was written by Phil Gramm and cosponsored by two Republicans. Of course Clinton was complicit because he didn't veto the thing.

The video also underscores why so many of us are disenchanted (understatement) with the Obama Administration in his appointment of Larry Summers-champion of deregulation. We have rightly concluded that Obama is ideologically on the same page as Summers and Geithner and this is simply irreconcilable with my views.

[Citizen Worker]

2. What is missing from the critiques of Glass-Steagall and other so called regulatory reforms is the

mandates in the GATT. According to Lori Wallach of Public Citizen the repeal of Glass-Steagall is noted in a footnote of the GATT. Perhaps these commentators could help educate the public by inviting Lori Wallach to be interviewed.

[blackspade]

3. Bookmarked for Sunday AM reading!