Can the American people regain control of the nation's financial system or will they continue to suffer outlandish financial repercussions at the hand of out-of-control bankers?
The quotation for today highlights the efforts of the Speaker of the House, John Boehner (Republican of Ohio), to distract us from the threat of extreme, unnecessary risks to the nation's financial system; financial hazards that are created by out-of-control banks and their vainglorious managers.
Simon Johnson was chief economist of the International Monetary Fund and is now a professor at MIT’s Sloan School of Management. Professor Johnson and his colleague, James Kwak, founded the website baselinescenario.com, and they co-authored the bestselling book 13 Bankers and the most recent book, White House Burning.
The above comments were part of an interview conducted by Bill Moyers.
To read the complete interview, please follow the link enclosed in the citation.
Moyers, Bill. "Are JPMorgan’s Losses A Canary in a Coal Mine?." Bill Moyers.com 16 May, 2012.
The quotation for today highlights the efforts of the Speaker of the House, John Boehner (Republican of Ohio), to distract us from the threat of extreme, unnecessary risks to the nation's financial system; financial hazards that are created by out-of-control banks and their vainglorious managers.
"And I would say in this context, Bill, it’s very important not to be distracted. I understand for example, Speaker Boehner, the Republican Speaker of the House of Representatives, is proposing to have another conflict over the debt ceiling in the near future. This is the politics of distraction. This is refusing to recognize that a huge part of our fiscal problems today and in the future are due to these risks within the financial system that are allowed because the people running the biggest banks hand out massive campaign contributions across the political spectrum."
Simon Johnson
Simon Johnson was chief economist of the International Monetary Fund and is now a professor at MIT’s Sloan School of Management. Professor Johnson and his colleague, James Kwak, founded the website baselinescenario.com, and they co-authored the bestselling book 13 Bankers and the most recent book, White House Burning.
The above comments were part of an interview conducted by Bill Moyers.
To read the complete interview, please follow the link enclosed in the citation.
Moyers, Bill. "Are JPMorgan’s Losses A Canary in a Coal Mine?." Bill Moyers.com 16 May, 2012.
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