Bailouts And Proper Stimulation: Ratigan, Ritholtz, Fleckenstein & Stephen A. Smith (Clip)

(commentary below)

Love D Rat's new show.  Best discussion of the issues in awhile.  Watch.

Host and Guests:

• Dylan Ratigan, intense, angry and righteous, author of The Truth On A Daily Basis
• Barry Ritholtz, author of Bailout Nation and all-around nice guy
• Bill Fleckenstein, hedge fund manager, straight-shooter, hates CNBC
• Stephen A. Smith, former ESPN host who has found his new calling-politics
• Fourth Guy, no clue who he is, works for the WashPo

Watch the whole thing or if you must give up halfway, make sure to see the last 90 seconds to hear Stephen A. Smith get started.  Not commenting on his politics, just his passion.  It didn't always work with sports when he was at ESPN, but it's a winner for political discussions.  He's got a future in politics or punditry, guaranteed.

Watch.

Comments

[James H]

I love Barry Ritholtz. Here's more uncommon sense from BR as he responds to this inane statment:

“But financial meltdowns don’t offer villains, for the simple reason that no one person or even one group is powerful enough to take down a whole system.”

-Megan McArdle

BR: "Um, Megan, I am going to have to beg to differ with you. There were many, many identifiable villains who through their own action and inaction, helped create the crisis....

I have 322 well researched pages that shows as much.

Goldman Sachs was but one of the 5 biggest investment banks that requested from the SEC, and received, an exemption from the net cap rules. This allowed their leverage to balloon from 12-to-1 to as much as 40-to-1.

As a nation, we need to stop pretending this is “too complicated” and start holding the responsible parties accountable . . ."

http://www.ritholtz.com/blog/2009/07/no-financial-villians/

[James H]

More good stuff from BR on Citi and TBTF. (From Morning Joe.) Talks about one of my favorite topics -- pitchforks and torches. Also talks about clawing back fraudently earned bonuses at Citi, Merrill and Countrywide. I rate this one Four Tines.

http://www.msnbc.msn.com/id/3036789/#31888745

[DailyBail]

Thanks James...great stuff.

[spideydouble]

Wow. That really was a fantastic Morning Joe. Surprisingly calm and measured for such an emotional topic. Thanks for sharing James.