Down so please thank me join me in thanking rob for coming today and book. And now i am so pleased to introduce tonights speakers gerald epstein. Ian is the professor of economics and codirector of the Political Economy Research institute at the university of massachusetts, amherst. He has published widely on a variety of progressive Economic Policy issues, especially in the areas of central banking and international finance. His previous books include the political economy of central banking contested and the power of finance and whats wrong with modern money theory . A policy critique. He is also a longtime member of the center for popular economics. Hell be joining in conversation tonight by juliet schor ford, professor in economics and associate energy at boston college. Gerald epstein is presenting his new book busting the bankers club finance for the rest of us. Bankers brought the Global Economic to its knees in 2011 and nearly did the same in 2020, both times the u. S. Governme
Down so please thank me join me in thanking rob for coming today and book. And now i am so pleased to introduce tonights speakers gerald epstein. Ian is the professor of economics and codirector of the Political Economy Research institute at the university of massachusetts, amherst. He has published widely on a variety of progressive Economic Policy issues, especially in the areas of central banking and international finance. His previous books include the political economy of central banking contested and the power of finance and whats wrong with modern money theory . A policy critique. He is also a longtime member of the center for popular economics. Hell be joining in conversation tonight by juliet schor ford, professor in economics and associate energy at boston college. Gerald epstein is presenting his new book busting the bankers club finance for the rest of us. Bankers brought the Global Economic to its knees in 2011 and nearly did the same in 2020, both times the u. S. Governme
Three steps do not live in poverty. And a bipartisan theres theres bipartisan agreement this for voters i think for the elites, a mismatch. I think republican elites would support Something Like that in democratic elites are more skeptical of it. But for ordinary people i think like this is something that republican could actually sort of dwell on and focus on that actually agrees on this. So you can find to to promote that. Well, we really encourage you all to read robs book. It is it is great and you will definitely not want to put it down so please thank me join me in thanking rob for coming today and book. And now i am so pleased to introduce tonights speakers gerald epstein. Ian is the professor of economics and codirector of the Political Economy Research institute at the university of massachusetts, amherst. He has published widely on a variety of progressive Economic Policy issues, especially in the areas of central banking and international finance. His previous books include
Three steps do not live in poverty. And a bipartisan theres theres bipartisan agreement this for voters i think for the elites, a mismatch. I think republican elites would support Something Like that in democratic elites are more skeptical of it. But for ordinary people i think like this is something that republican could actually sort of dwell on and focus on that actually agrees on this. So you can find to to promote that. Well, we really encourage you all to read robs book. It is it is great and you will definitely not want to put it down so please thank me join me in thanking rob for coming today and book. And now i am so pleased to introduce tonights speakers gerald epstein. Ian is the professor of economics and codirector of the Political Economy Research institute at the university of massachusetts, amherst. He has published widely on a variety of progressive Economic Policy issues, especially in the areas of central banking and international finance. His previous books include
Recognized names in swiss banking. He is now vicechairman of blackrock, the worlds biggest money manager, which handles more than 5 trillion in assets. After 10 years from the financial crisis, what have we learned . Philipp we had too much leverage in the system without any doubt. And that when you have leverage, bad things happen. Not only do they happen, but when they happen, the effects tend to be amplified. I think that is the key takeaway roommate all. We have also learned that this notion of kind of letting the market be totally free, that governments really should get out of the way, that wasnt a very good idea. What stands out is banks needed much, much more capital than they had at the time. We had capital levels that were excessively low. I mean in some cases, these , banks were leveraged nearly 100 times. And that, to me, has always been the key takeaway. In some some case ways i wish we had focused more on the capital issue and less on all of the many other things that hav