Going to take a deep dive into wall street reform stacey this is the defining issue of our time i believe since 20082009 the financial crisis the response to the financial crisis when barack obama came into office he had a choice and he made i believe the wrong choice that has resulted in not only tromp but what were going to see in the 2020 alexion with us we have dr Michael Hudson and randy bowler now the 2 big items that we saw from the 2008 financial crisis with the top 2 i have here too big to fail too big to jail it was always the reality but it became front and center and nobody can disguise the fact that we now live and it to tear a con a me dr Michael Hudson should banks be too big to fail the problem isnt really just that theyre too big to fail theyre too big not to make all their owners billionaires the banks that were the most crooked the largest banks have increased their role not decreased the role theyve been rewarded instead of punished so its not simply that there are
Welcome to front running 2021st max keiser and Stacy Herbert we look at all the candidates we look at the positions as we head into the big election today were going to take a deep dive into wall street reform stacie this is the defining issue of our time i believe since 20082009 the financial crisis the response to the financial crisis when barack obama came into office 7 he had a choice and he made i believe the wrong choice that has resulted in not only tromp but what were going to see in the 2020 alexion with us we have dr Michael Hudson and randy bowler now the 2 big items that we saw from the 2008 financial crisis with the top 2 i have here too big to fail too big to jail it was always the reality but it became front and center and nobody can disguise the fact that we now live and a 2 tier a con a me dr Michael Hudson should banks be too big to fail the problem isnt really just that theyre too big to fail theyre too big not to make all their owners billionaires the banks that wer
A journalist an investigative journalist to find these crimes you could have tuned into our show or matt there were a lot of great journalists writing about all the crimes that did happen but they didnt get punished you know andrew yang actually has a radical idea for dealing with this in the future and yang says that if he were to become president that he would pass the Public Protection against market abuse act and this would create mandatory minimum jail sentences for financial crimes and of course we know that it was Biden Clinton those sorts that passed those mandatory minimum sentences for crimes in the hood this would bring it down to wall street but also they would be mandatory minimum jail sentences for c. E. O. s and this is the radical part the largest individual domestic shareholders should shareholders be responsible for these crimes at these banks and i think wiping them out would be. And thats what happened to citibank all these bad the big banks were all basically bankr
Sufficient. And thats what would have happened to citibank all these but the big banks were all basically bankrupt citibank and bank of america. All of the big mortgage fraud banks had 0 net worth they had negative equity the shareholders should have been wiped out eric holder said what about the wives of the shareholders and the little kids they would have suffered and its worth sacrificing the whole economy its worth a depression for 10 years so that the wife of the shareholder in the little kid school wont suffer but they still have negative equity negative net worth to make that work though they have been reduced negative Interest Rates to somehow make negative that worth palatable in some strange way but going back to the 1929 crash and then the pechora commission as it was called in many bankers went to jail and then introduced many reforms like the last eagle alike other reforms that were aimed at getting rid of the abuses that. Come when as even and smith said when you put 3 bu
Lets stay with the too big to fail too big to jail because when barack obama came into office he had the opportunity to punish these crimes and the voters wanted that thats why they voted for him he didnt randi why did he not do this eric holder as attorney general is comment about that some of claim that he was too close to some of these groups as a corporate attorney we did not have for a moment like they did in the past with the peugeot hearings the wheeler hearings when f. D. R. Was president you had a series of hearings that actually dealt with the crash of 1029 i thought in america in 20092010 we have the same thing and we did not of course f. D. R. Hired a journalist an investigative journalist to find these crimes you could have tuned into our show or there were a lot of great journalists writing about all the crimes that did happen it did but they didnt get punished you know andrew yang actually has a radical. I for dealing with this in the future and yang says that if he were