Quantcast
Feeds: Email, RSS & Twitter

Get Our Videos By Email

 

8,300 Unique Visitors In The Past Day

 

Powered by Squarespace

 

Most Recent Comments
Cartoons & Photos
SEARCH
« New Live Poll Allows Pundits To Pander To Voters In Real Time | Main | Peter Schiff Annihilates The Federal Reserve While Discussing A Possible Senate Run Against Chris Dodd »
Sunday
Aug092009

Who Wins, Who Loses & Who Pays? (Ritholtz, Huffington & Ratigan)

(Guest post from James...commentary, transcription and links.)

In this clip from Morning Meeting, Dylan Ratigan discusses California foreclosures with Arianna Huffington and Barry Ritholtz, but he quickly brings the conversation back to the fundamental issue: who wins and who loses in this economic crisis, and at whose expense?  Great stuff.

Watch

 Ratigan:

  • “A lot of people participated in the credit bubble.  But those who participated and couldn’t afford the houses are getting thrown out of their houses.  Those who participated and paid themselves bonuses to give those houses away, kept the bonuses.  And got more.  And our government made it happen.  That’s the tragedy.”

As DR points out, executives at the investment banks and the large commercial banks received and have been allowed to keep ungodly sums of money despite having brought down the house of cards that was – and is – our financial system.  Unfortunately, our bought-and-paid-for Congress is still enchanted by the spell of too big to fail, TBTF.

  • “We have to get rid of Too Big To Fail and for once and for all take our government back from those who are buying it and using it for their interest at the expense of the taxpayer.”  He means you, Government Sachs.

 But wait, didn’t we already “take our government back” in November 2008?  Hasn’t Obama promised us reform, transparency and change?  We keep hearing a familiar, comfortable refrain from the White House and Obama says he gets it. 

 Ratigan again:

  • “But he needs to ACT like it.  He doesn’t act like it.”

And this final quote from D Rat gives credence to what AB and others keep saying, the 2010 election might be a game changer:

  • “...the moment when the American people demand systemic change....America has had it with Hatfields and McCoys.  The Democrats and the Republicans are not even real political parties.  The political parties are the Bank Party, the Energy Party, the Corn Party, etc.”

Ratigan knows the deal.  Remarkably, he’s one of the first and only TV journalists to state what everyone knows to be true: the bankers own Washington, D.C.

 

Watch

 

 

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments (4)

Great job, James. And excellent links. Thanks again.
Aug 9, 2009 at 10:11 PM | Registered CommenterDailyBail
Ratigan forgot the Media Party, of which Huffington was a huge player. Someone should get the vaudiville stage hook and pull her out. She is part of the problem: not a reporter, just a propagandist. Ratigan is great, though--nice decorum, excellent points. In the long run people are going to flock to him.

Kudos, James--this is a great piece!
Aug 9, 2009 at 11:16 PM | Unregistered CommenterSonic Ninja Kitty
"Remarkably, he’s one of the first and only TV journalists to state what everyone knows to be true: the bankers own Washington, D.C."

James.

Key word is remarkably. And you're right. Where are the other voices...
Aug 10, 2009 at 6:19 AM | Registered CommenterDailyBail
Great work James.
Aug 11, 2009 at 3:44 AM | Unregistered Commenterspideydouble

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
All HTML will be escaped. Hyperlinks will be created for URLs automatically.