The Dodd-Frank legislation and stress test, do nothing to stop systemic-risky financial institutions from blowing up the economy again. Bill Black joins theAnalysis.news with Paul Jay.
Bill picks up the history of financial fraud with the Obama administration. Finance has targeted Black and Latinx families with sub-prime and liars loans and the crash wipes out 60-70% of their accumulated household wealth. What does Obama do? Bill joins Paul Jay on theAnalysis.news
In a report from rural Wisconsin, Ann Morrison says she and her neighbours are suffering from decades of neglect as the local economy has been wrecked by neoliberal polices from both major parties. She calls for an FDR style New Deal and to stop blaming the poor for poverty.
Bill continues his history of modern financial fraud in America. He says the dark side of “financial discipline”, is the Merrill Lynch’s and Goldman Sachs of the world don’t provide discipline. They provide cash. They fund the expansion knowing it’s crap because they know as long as it’s going up, they personally, not Goldman, they personally will make a ton of money. Bill Black on theAnalysis.news with Paul Jay.
Chuck Collins, a member of Patriotic Millionaires, has unraveled how the super-rich use the wealth defense industry to gain power in its efforts to hoard and hide their clients’ assets. As a result, it becomes a parasitical appendage on the real productive economy, extracting rents and fees from the wealthy and enterprising sectors of the economy. Mr. Collins joins Paul Jay on theAnalysis.news
Why did the Fed allow the collapse of Lehman Brothers? How did liars loans and fraud become so pervasive throughout the financial sector? Bill Black continues his history of financial fraud on theAnalysis.news with Paul Jay.
The weakness of regulations and resources to enforce accountability on the finance sector is by design. Regulators’ budgets have been gutted, and even weak laws made unenforceable. Unless individual bankers go to jail when they commit fraud, nothing will change. Bill Black on theAnalysis.news with Paul Jay.
How does a corrupt mortgage scam by brokers in California become a massive national fraud that puts the whole economy into a deep crisis? Bill Black on theAnalysis.news with Paul Jay.
Will a large infrastructure plan create inflation? If inflation is linked to higher wages, that’s not bad for workers, says Pollin. Large increases in inflation have been linked to higher oil prices which are unlikely. What’s missing from the Biden plan is it doesn’t sufficiently address a just transition for fossil fuel workers. Bob Pollin joins theAnalysis.news with Paul Jay.
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