To save money now, it might have seemed like 23491930s in the 1930s we were saving a lot of money on defense. It ended up costing the world a lot more. This is actually a moment where congress by itself cannot do the job. You really need president ial leadership to explain and justify to the country whats at stake. And i have to say theres not really i think franklin roosevelt, that is his finest moment is that he really did work on persuading the American People that they had to bear a burden to make sure the world came out a certain way. And i think thats the responsibility of the current president. I worry that theres a lot of war fatigue, but we are actually going to regret giving into it. Just final, final footnote, actually not so much in this current, i mean, the old today, but there was a similar one that came out in pew a couple months ago. I have a colleague here whos spending some time actually going through the pew data, and there is that headline which is, you know, wed ra
Cpac. I want to make a couple of announcements seized silence yourself of this. Your cellphone sam personal recordings are forbidden and there will be a book signing crowd members of the panel right after this session for our i have to tell you that if you buy the book you buy it upstairs in the lobby bin the siding is across the street across the street. Once again welcome. We are privileged to have three authors to of taken very different approaches to record and analyze the financial crisis began in 2008 and the many effects political influence lobbying and misdirection to avoid the of regulation and oversight to avert the financial crisis of a few years ago in and to keep it from happening again in the future. On my left end to my left. [laughter] and just this week . Nomi prins her book is all the president s bankers. A former wall street executive that is in for the New York Times and fortune and the nation and that is of Broad Spectrum of publications in the united states. Her b
[inaudible conversations] okay, i guess we can start. Thank you all for coming. This is a great crowd and were all very happy to have you here as we talk about the financial crisis and financial history under the title gaming the system finance in america which is really what its all about. Before introduced myself and the panelists i just want to make a couple of quick announcements. First of all we ask you to silence your cell phones and we point out that personal recording of these sessions is prohibited. There will be a book signing for all the members of the so panel and myself right after the session. Im asked to type that if youre buying a book, you buy it upstairs in the lobby, and then the sign will be across the street. We will sign them after you buy them. Anyway, once again, welcome to all of you. We are privileged to have with us today three authors have taken three very different approaches to reporting and analyzing the financial crisis that began in 2008 and the many re
Well, i. I wish it was simple. If you want to gamble with your retirement money, be my guest. Narrator tonight frontline, the retirement gamble. Frontline is made possible by contributions to your pbs station from viewers like you. And by the corporation for public broadcasting. Major support for frontline is provided by the john d. And catherine t. Macarthur foundation, committed to building a more just, verdant and peaceful world. More information is available at macfound. Org. Additional funding is provided by the park foundation, dedicated to heightening Public Awareness of critical issues. The wyncote foundation. And by the frontline journalism fund, supporting investigative reporting and enterprise journalism. In this bad economy are borrowing from their 401 k s. The number of workers borrowing from their accounts has reached a tenyear high. A Record Number of workers now raiding their 401 k s. Martin smith lets begin with one simple fact america is facing a retirement crisis, an
Well, i. I wish it was simple. If you want to gamble with your retirement money, be my guest. Narrator tonight frontline, the retirement gamble. Frontline is made possible by contributions to your pbs station from viewers like you. And by the corporation for public broadcasting. Major support for frontline is provided by the john d. And catherine t. Macarthur foundation, committed to building a more just, verdant and peaceful world. More information is available at macfound. Org. Additional funding is provided by the park foundation, dedicated to heightening Public Awareness of critical issues. The wyncote foundation. And by the frontline journalism fund, supporting investigative reporting and enterprise journalism. In this bad economy are borrowing from their 401 k s. The number of workers borrowing from their accounts has reached a tenyear high. A Record Number of workers now raiding their 401 k s. Martin smith lets begin with one simple fact america is facing a retirement crisis, an