The Wall Street Takeover and the Next Financial Meltdown

Simon Johnson, co-author of “13 Bankers” describes the rise of concentrated financial power and the threat it poses to economic well-being. He explains that over the past three decades, a handful of banks became spectacularly large and profitable and used their power and prestige to reshape the political landscape. He argues that the largest banks have become more powerful and more emphatically “too big to fail,” with no incentive to change their behavior in the future. Is this setting the stage for another financial crisis, another government bailout, and another increase in our national debt? [5/2011] [Show ID: 20776]

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[Hisdudeness]

Also, I must say it's nice to have discourse without getting screamed or cursed at, so thanks.

[mattxri]

Too big to fail = too big and dangerous to exist!

[bloodcell]

Simon articulate and intelligent enough be able to convey how national&international BANKING systems operate the political dogmas of the WESTERN WORLD, addressing also the extreme social complex mechanisms that such BANKING cooperation's endear too to the (me) layperson....such information and knowledge CANNOT be gained WITHOUT having had some direct access to such POWERFUL Financial Political INSTITUTIONS...and the beauty was that Simon Johnson did it without ANY political BIAS.

[rogerwilco]

"To big to Save" - Very good way to describe the real problem.

[nunayobiz]

One of the best videos I've seen on the subject, Thanks!

[rayloke]

YES, ... AUDIT The FED indeed is a MUST Realistically.

[mbell]

And they knew everyone else would get screwed and did not care. These people bragged to each other about it on e-mail and wire taps.

[PnPrailroad]

You're wrong Simon, The banks need to take all the responsibility and falures of their risk assessments and not states of the world. If the bank fails, it's history.

[zoneTherapyCures]

Sovereign nations that have the authority to issue their own currency can never become insolvent.
"The Government is not like a household. A government is like a bank. And a government running a balanced budget is like a bank that simply lends back as much as it gets in repayments, therefore the money supply never grows and without that, you don't have a growing economy.

It's one of two ways to create money, and if you don't let government create money by spending more than they take back in taxation (fiscal policy), you have to rely on the private banking system to create the money in the form of credit (monetary policy) and you therefore get private debt bubbles." ~ Prof. Steve Keen

[casmarenarthurheel]

Because the issue of the video in my journal is related to money,  one should ask what's right accordingly for balance when coming to terms. Will you want save the people while you see what is unjust? How will you save them from the issue without justice?

[waltpierluissi]

What is coming to USA is something that even the brightest economists have not been able to grasp still; and Obama do not have any interest on help to avoid. The 30’s will look like child play! Greed has been our illness for long now, and our government is full of it. We have live from bobble to bobble, we saw the real state bobble and we saw the downfall in 2008. Now we have what economist called the money bobble, and this one will come down in 2015. So be ready and be SAFE.

[kanahzda]

We need more freedom and less government. The government should have let the banks fail, so that honest people could take over. We need to get ride of fractional reserve banking and the national banking system. We don't need more regulation.

[jannmutube]

Who are the Norquist Republicans? In the 113th Congress, the one just elected that began in January, 219 of 234 Republicans in the House signed the Norquist tax pledge; in the Senate, nine of 41 Republican senators signed it. By contrast, before the 112th Congress, which is still in session, 248 representatives and 41 senators signed it. Search TPM's Running List Of Republicans Who Have Renounced Grover Norquist (Dec 11, 2012) for a list of those who, supposedly, have renounced Grover Norquist

[zarni]

right. agree. but if they are regulated properly they cannot fail. have you heard of a credit union failing? just make banking be a utility - only credit unions allowed (owned by the depositors). the investment banks can do whatever they want - as long as they don't bring depositors down they can lose money for the investors with virtually no repercussion on the common man.

[thegreatmonster]

In this whole clip you don't hear a single thing on the culture nor the organizational goals within those companies that were "too big to fail". These corporations were set out to make money, create wealth and pay out dividends to their shareholders. Nothing more nothing less. They have set goals to achieve those goals. No wrong doing so far. The real problem were the shareholders and stakeholders with their too high demands putting so much pressure on the financial markets.

[Hisdudeness]

So bring back Glass Steagall...sounds like a good idea. When they repealed it, it was like pulling the rug out from under the financial system.

[Hisdudeness]

I agree with regulating the market, but I think the banks should be more like "small enough to let fail."

[IamMANnumber]

Al Capone said - "Capitalism is the racket of the ruling class."

Great upload thanks.

[VikenZKokozian]

The Wall Street Takeover and the Next Financial Meltdown
"13 Bankers" describes the rise of concentrated financial power and the threat it poses to economic well-being. over the past three decades, a handful of banks became spectacularly large and profitable and used their power and prestige to reshape the political landscape. The largest banks have become more powerful and more emphatically "too big to fail, " with no incentive to change their behavior in the future. INFO-AWARENESS - VIKEN Z K

[zarni]

making the banks "small enough to save" will not solve anything. you need to regulate the market. if you have 1 big bank fail or 10 small banks fail it's the same problem.