A giant of US television retires from the screen
One of the fascinating aspects of my new American life is seeing how loud the volume of dissent is from the American
people about the shenanigans on Wall Street and the Too Big To Fail banks. There is an intensity and passion that I can’t see happening on the other side of the Pond. Maybe this is the cultural legacy of a people that just a short time ago, relatively speaking, were opening up this giant country seeking a better way of life than the ‘old countries’.
This intensity and passion is why, in the end, I believe that the solution to the huge crisis that still awaits us will start from this side of the Atlantic. But it will get a whole lot worse before it gets better, such is the complexity and depth of the fraud that is being visited on decent, ordinary folks in this and many other fine countries.
Bill Moyers of the Bill Moyers Journal on PBS is retiring. He’s approaching 76 and that’s a grand age to be dealing with the workload and stress of a weekly television presentation. His last Journal was broadcast on the 23rd April, a week ago today airing two really important topics. My only regret is that I haven’t been here sufficiently long to view many more of his Journals.
In that last broadcast on the 23rd, Bill had two key interviews. In this Post, I want to bring to your attention his first report, which was an interview with William K Black, now an academic but, just as importantly, a former bank regulator. William Black really understands what is going on in banking.
The interview is both fascinating and captivating because, well to me anyway, it explains in terms that us laymen can understand, exactly what is going on and why it is so terribly important that legislation and regulations are brought into force to stop this fraud ever happening again.
This interview has not yet made it’s way onto YouTube so I can only post the link to the Bill Moyers website.
But, please, if you care about what is happening to us in whatever country you live in, click on this link and watch the interview.
And if you want to watch the earlier interview that Bill Moyers had with William Black then here it is.
By Paul Handover
Learning from Dogs 
Well I am not so sure they will find their way out because though indeed there is a lot of barking going on most of it is up the wrong tree.
So called progressives bark at Wall Street and bank oligarchs… so called conservatives bark at Fannie Mae and Freddy Mac… and almost none has the faintest inkling that who they should be barking at are some naïve gullible and outright stupid financial regulators sitting over there in the Basel Committee.
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Devastating. I am not an economist, but my instinct at the time – probably shared by many Americans – was to say “Let the bastards all go bankrupt.”
Too damaging to the economy? “Yes, they would say that, wouldn’t they?”
What SHOULD have happened was that the government nationalize ANY bank failing, sack all the directors and put in fresh and hopefully honest people. As banking is basically a way to print money anyway, the nationalized banks would eventually have become profitable once more and paid the American people back.
As it is, I focused on one statistic from Bill Moyers; the TRUE cost to the taxpayer will eventually be several TRILLION dollars.
And as always with criminals who get away with something, they’ll eventually be tempted to REPEAT THEIR CRIME.
It isn’t pretty and we CAN’T let them get away with it.
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“The TRUE cost to the taxpayer will eventually be several TRILLION dollars.”
The supposition that the taxpayer is going to pay for this crisis, on top of all the other things he has to pay… is probably a too strong supposition!
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