Here’s one snippet on how Wall Street’s spin on why we have crises is false:
There was a point when the bankers would get before the FCIC, the Federal Crisis Inquiry Commission, and they’d say, well, bubbles just happen and they burst and we’ve got to deal with them. You know, that’s the brilliance of capitalism: it allows us to unleash our entrepreneurial, speculative instincts and find great new businesses.
Except it didn’t really happen. That whole period—and this is key, and your viewers should understand this—over this period the economy did not perform well. If they were right, the Jamie Dimons and Alan Greenspans of the world, the economy would have performed well. We would have had a crisis, but we would have had so much muscle building up that crisis that we would have created a great economy. We did not.
Except for those at the very top of the pyramid.
Here’s part one of the interview:
The other episodes are here.