Yanis Varoufakis on why we should 'let the banks burn' | UpFront

Are we in the midst of a new banking crisis?

The collapse of the Silicon Valley Bank in early March threatened to destabilise major banks in Switzerland and Germany, triggering fears of a wider downturn like the one that led to the Great Recession of 2007-2009.

While at this point the crisis seems to have been somewhat contained, is this a sign of a broader structural problem? And what lessons, if any, have been learned since the Great Recession?

In an UpFront Special, host Marc Lamont Hill speaks to world-renowned economist and former Greek Finance Minister Yanis Varoufakis about what can be done differently this time and why workers always seem to bear the brunt during times of economic downturn.


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[johnxpaulson]

Thank you Al Jazeera for having on people like Yanis!!

[globalismoblackman]

Yanis is an Economic Legend-🙌👍👊. I have been listening to his Economic research and analysis since the 2007/08 global financial crisis. He is legendary for dissecting the prognosis of economic and political issues like a piece of cake.🙌😎👍👊✊️

[Rubango]

I love how Yanis breaks down and explain the most complex things.

[austinbourke]

Great show and respect to the Interviewer for asking the Q and letting the answere be heard in full without interruption

[ianwoodywoodwoof]

I hope Yanis is back to full health... He is a diamond; telling us what is really going on in the murky world of global capitalism. Thank you Al J for having him on. I listened to him months ago explaining how we were being fleeced by energy producers and suppliers. His insights and analyses are necessary and educational in order to see through the opaque systems of finance which govern our lives. He cares about the workers of the world. Thank you Yanis..

[Jordyssey]

This man is a gift for the Greek people, yet on Sunday's elections people didn't even put him in the parliament. We deserve what is happening to us.

[mariettestabel]

Glad we have this brave Man Mr.Varoufakis.

[brehgankage]

Varoufakis is a great economist. His explanations is cutting through the bs of corporate media.
Also thank you to great host Lamont Hill.

[nemtii_]

Yanis Varoufakis you are a gift to humanity! thank you

[sanforizedbutthead]

Thanks to Yanis for a rational, wise and sound analysis. We need more people like him in Europe. Also very glad to see he is doing much better after the nefarious attack he was subjected to.

[duncancampbell]

Brilliant mind! one of the key voices in this world to shine the light and make sense of the destruction of the middle class.

[darrylsugg]

Yanis, it's so good to hear an intelligent reasoned argument against the status quo constantly pumped out by the majority of the media. Please keep it up.

[TheSpoovy]

Just finished Yanis's book "Adults in the room". Highly recommended it, its such an eye opener on the corruption and anti-democratic practices within the EU.

[ailingsoong]

Love to hear Yanis talk. A man of the left so maybe I'm biased but his reasoned analysis serves to provide a genuine (not simply a bloated rhetorically device) alternative to our current financial system. Lets be clear his ideas are not perfect and there will be opportunity costs for sure. No system is perfect but at least he knows the details well enough to show what can be done to restructure the system away from bank and financial institution friendly interventions, towards an intermediation mechanism that directly fits with needs of the people and small/medium sized companies

[carpediem]

It's so good to see Marc Lamont Hill.

[Spung]

So refreshing to have a reporter ask a question that is not leading and listen to the answer

[panama_juan]

Exactly what we should have done in 2008-2009. Let the "too big to fail" banks fail. If you or I start a business and manage it horribly, we go bankrupt. The same should be true for all financial institutions otherwise we're kicking the moral hazard can down the road for an even bigger collapse. There shouldn't be bailouts for any businesses or institutions that choose greed over sound business practices. We're going to pay big time for the past decade and a half of bailouts and "quantitative easing".

[sammyd]

Love to see Lamont Hill with his own show

[stanleykubrick]

Mr. Varoufakis is one of the few clear-headed and courageous people who can communicate that economics as it's been structured is a form of brain damage.

[perthpete]

All the bankers know they will always get bailed out. Their bonuses are guaranteed!! They cant lose!! What a world we live in?