Larry Summers On Paul Volcker & Obama's Banking Proposal, Glass-Steagall Lite (VIDEO)
CNBC Video - Larry Summers with John Harwood of CNBC - Aired Jan. 21, 2010
For the Volcker Rule to "work," nit-wit journalists have to start writing about it as if it's really about regulation, not simply playing politics with regulation. For the Volcker Rule to "work," we need to see another stupid cat fight between pundits on the "left" and those on the "right." For the Volcker Rule to "work," we need to get all worked up over whether the proposed regulation is "anti-capitalist," or whether it prevents "capitalism" from destroying itself.
For the Volcker Rule to "work," everyone in D.C. and the media must pretend that this is something besides another red herring to distract us from the real issues at hand, namely Too Big To Fail, ongoing taxpayer subsidies of Jamie Dimon and Lloyd Blankfein's salaries and bonuses, and the fact that widespread FRAUD continues to go unpunished at the banks while the banks continue to turn the screws on their customers with more and more fees.
Dec 14, 2011 at 5:35 PM
Reader Comments (4)
The line must be drawn here against OBAMA
http://www.youtube.com/watch?v=cGF1NP-FrCU&feature=related
The Obama Brand: Feel Good While Overlords Loot the Treasury and Launch Imperial Wars
By Chris Hedges, Nation Books
Media and Technology: Brand Obama makes us hopeful. We like our president and we believe he's like us. But we're being duped into doing a lot of things that are not in our interest.
http://www.alternet.org/media/145358/the_obama_brand%3A_feel_good_while_overlords_loot_the_treasury_and_launch_imperial_wars