BILL MOYERS JOURNAL | Preview: Simon Johnson & Rep. Marcy Kaptur | PBS

[farmboycarl]

Simply put, a $100,000 credit default swap purchased against the equity in your home will yeild a $4 Million dollar pay-off to the holder of the swap if you default on your mortgage. Gee, do you think the nice men on Wall Street who invented these things have an incentive to destroy the housing market?

[joegolfer]

Wage growth, benefits, length of the work week, proportion of GDP owned by the working and middle classes--all kept moving in worker-friendly directions as long as unionization was on the increase. Then came 1980, and the election of Ronald Reagan, who broke the air traffic controller's union (PATCO), and set the trend for a downward spiral ever after.The joke is not just on the blue-collar work force; the fortunes of the white-collar crowd have pretty much followed the same trajectory.

[kbspots]

Great Great video and comments about Chase and Jamie Dimon. Keep up the good Work Marcy.

[LeseMajeste]

You little people are always griping about something. "I lost my job or I lost my house or I don;t have enough food to feed my family"

Stop whining! Do you know how much money it takes to take care of 3 or 4 homes or buy Rolls -Royces or private jets?

And I won't even tell you about the high cost of French champagne!

[edmack4me]

They have poor thinking that keeps them poor and they behave akin to sheep and the majority know their place when they say, 'but, i am only a worker' or a 'retiree' - so what, who cares. Then the other poor eat cake become fat and this fat replaces their brain cells, so all they can do is watch sport, or soapies and think that Europe is a country in the Pacific.

[wborgstro]

Easy fix with two tools;

Pitchforks and sharpened hoe handles.

Quit your fricking whining and prepare for war, you welfare loving 'mericans. Been coming a long time

[CosmosPrivateer]

There is another part of this broadcast that is a must watch.

Marcy mentions the lending practices of the banks. The banks with rules set forth in modern money mechanics can lend 10 times the amount they have in reserves. She claims some banks have lent 100 times their reserves.

So the money banks lend us is created out of nothing.

It is one of the biggest scams ever created. They create it out of thin air and we pay them loads of money in interest on what we barrow.

WHY?

[glamourknight]

I hope the White House intercedes on them .

I don't care what all the McCarthiests and Tea-baggers say. This sham way of doing business in the U.S.has got 2 stop.

[Hallonsylt]

Obama is just another shill. I mean you can't see that already? Liar was talking peace during the election, and now its more troops, more troops, more troops. He talks about reforming the banking system by giving unlimited power to the very same scum behind everything. Good luck with that guy, wolf in sheep's clothing, AntiChrist whose "Yes We Can" chant is a perfect "Thank you Satan" played backwards. Gets a Nobel Peace prize for what? Increasing war in Afghanistan? Something's real fishy here.

[perztsdr]

..thank you for having the courage to speak out,

Marcy. Thanks for representing, caring and

assisting the folks from Northwest Ohio and

the families that are suffering the most.

Being bold with honesty and directness has

empowered you and a shining star in congress and our government.

[MadBadVoodo]

@perztsdr After 30 years in the house you would think that they would show more respect for Marcy! But then maybe NW Ohio needs a change...

[NottakingGOPBS]

Throw these criminals in jail (JP Morgan's Dimon). They are a blight on the people of these United States.

[maskedphrogg]

re: JP Mogan Chase

Sounds like too big to deal with customer base, perhaps too big to have customers.

I know I left that bank as a small saver for just that kind of unwillingness to provide customer service.

I suppose they might want to fail. After all, look what failure did for AIG.

[mayalibre]

@maskedphrogg - I agree, I think they might want to fail. I just got a promotional piece of junkmail from Chase offering me $150 to open a checking account in their bank. I only have to keep $100 min balance and pay a monthly fee for at least 6 mos. So, if the monthly fee is $10, at the end of six months I've paid $60, but can withdraw my original $100 and $150 more. So they've PAID ME $90 to have the account at all! Doesn't seem like good financial sense. Something doesn't smell right.

[crock703]

Rep. Kaptur needs to be have a national nightly new camera crew there with her & her people when she calls and when is stood up. SHOW the Congress, local govts, the realtors, and the public exactly how the banking industry/lenders are intentionally forcing the country languish, so that they can wait our years of reccssion/depression without having to expose how incompetent they were and how insolvent they are.

This is a waiting game, We rebuild the economy while hide out, decades maybe.

[JixMa]

I love Bill Moyers, Simon Johnson and Rep. Marcy Kaptur. I could listen to each all day.

[maskedphrogg]

Let's hear all the rhetoric about how wonderful a managed and regulated bank system is. This is the outcome you get when you regulate banking. No longer does a bank negotiate with it's customers. Now it need simply "negotiate" with the legislators who will enforce banking policy.... on those same customers.

Talk about a fixed game.