JAY: Now, one of the things that came out of the McClatchy series was that Goldman was betting against its own properties it was selling clients. So it was selling these bundled mortgages to a pension fund, and over here is buying insurance from AIG because they knew that the whole thing was going to crash. But there was no regulation that caused them to disclose to their clients that they're betting the other way over here. What do you do in an environment where the people writing the regulation, they're all coming from Goldman, so that the people who were playing that game are the ones supposed to be writing the rules now?
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Sunday, January 10, 2010
Tax the speculators and create a public bank (12:29m video)
The Real News Network interview with Robert Pollin is Professor of Economics and founding Co-Director of the Political Economy Research Institute (PERI) at the University of Massachusetts, Amherst. Excellent exposé of the recent bankster shenanigans and changes that should be made (but likely will not be).