The roots and remedies of the financial crisis

[mikeybrumbrum]

Ok, its pretty established now, that NO ONE is gonna put up with this rubbish.

Even the police dont want to work for half their wage, which is basically whats gonna happen, in america.

So, sooner or later, someone is just gonna arrest george bush or bama, or both. Maybe a few others, too.

Cus the police HAVE to do whats bets of rht eistuation (to keep the peace).

And thats NOT supporting thieving govts, who openly steal from the people.

How the fck would THAT be keeping the peace ?

[bajawind]

this guy is FULL of crap, he is spouting the wall street version of doing good with greed.

[ngonea]

U.S is spending on 2 wars, billions and you say

this guy is full of crap?

There is 2.3 trillion missing from the Pentagon, the area that was investigating the lost funds was hit my a mysterious airplane nobody can find?

What is your solution, more trickle down economics and continued W.S., or are you planning to bring black the KKK like former President Woodrow Wilson after the U.S. went broke spending on WW1 or 2 which ever it was. in the Land of the Free and The home of the Brave?

[bajawind]

How about trickle UP economics.

The Nationalization of Prosperity

This stimulus package would see the creation of a minimum level of prosperity, and would directly and immediately increase the need for local goods and services, creating a demand for millions of vacant homes.

There is no shortage of of goods and services in this country. Method and cost of access are the issue.

We can live well, satisfying the needs of the majority or we can have scarcity serving a tiny wealthy minority.

[Prophetess7]

I disagree with him about the freddie mac/fannie mae programs. The programs gear towards the poor were heavily regulated-with tons of rules.

[Ilvagabundo]

Sanje is a terrible interviewer!!. In the sense he doesnt allow the ppl to answer without talking. Even the guy on BBC Hardtalk is more passive in this regards.

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[88a]

Federal Reserve and its banks greedy evil gangster policies and attitude is the fundamental root cause of US Economy destruction!

[mzambo666]

Amen brother!

[delerium2k]

He's talking about symptoms, not the core problem. All the complexities of our current economic system ultimately boil down to the source: who actually issues the money we use and how it is issued.

[blackiron60]

To be quite honest, this is an economic meltdown that should be welcomed: it will force us to rethink radically the kind of ideals we subscribe to as a society.

[avivagabriel]

Ideally, yes. But there are millions of people who's retirement savings, hard-won 401ks, and college funds have been slashed by the shenanigans of our government and wealthy elite. I doubt that the average, $50,000-a-year white collar worker who's saved every spare scrap in a 401(k) can "welcome" this meltdown in anything but an intellectual way.

[pongman]

The answer is nationalize the bank. Give every taxpayer a share of the bank, and open up the teller window to start giving out loans with stiffer regulations. As soon as the first person purchases a home immediately that neighborhood has a dollar figure value for their home. Then base the tax revenue on that base sticker price as well as the mortgage for those homes.

[danmcc22]

This guy does not paint the big picture or have a workable solution.

The problem is not the result of a few single past events or past US presidential policies. It is the credit based money system of the world. That system must be replaced.

The "Federal" reserve, and all other central banks should be transformed into organizations that serve every individual, not the few.

[avivagabriel]

Exactly. It's the deeply fundamental system of creating money from credit. Thanks for stating it so clearly.

[Roshibear]

First of all how does creating money from credit only serve the few and not, in fact, everybody?

Secondly what would you replace with?

Maybe the problem is personal repsobility here. Fractional reserve banking only works when the loans go into creating real wealth, not when interest rates are so low that investments like Iraq and SUV's seem to make sense. What happens then is the potential for real wealth to be destoryed, and that is exactly the situation we are in....

[Roshibear]

Main street is just as responsible for this mess as Wall Street.

The only Obama appointment so far that lacks real substance is his selection of Joel Klein as Secretary of Education. So yea there is a cultural war, and ruling financial elite that is turning U.S. secondary education into vocational training. Nevertheless everybody still has the opportunity to really educate themselves here. You can't just blame this on the financial elites, everybody who's been happy to invest and remain...

[Roshibear]

ignorant of how the banking system really works is to blame here. We've brought this upon ourselves as a society, and any other system we would have had in place was, in the end, just as likely to fail as this one.

Personally I would like to see this system changed so that people who behave irresponsibly will be more harshly punished for that behavior. That's the ultimate check and balance. That would required that both markets and information are free....

[Roshibear]

Finally in reference to that last statement, deregulation is a joke. There are more regulations across the board on the books now then ever before. The problem is that these new regulations have be written by corporate lobbyists. I call this a soft fascism. I don't even know how we'd get to a truly free market from our current place, if we wanted to. So yea between a soft fascism and a soft socialism, I choose the later. Ideally however I would support truly free markets.

[ngonea]

All Congress needs to do, is do their job they swore to do, the Constitution gives them the authority and responsibility to create sound money for the common welth of the ppl.. They created the Fed Reserve act 1913, in secret, now they borrow money form Int'l Banksters, and make us pay back the loans. They can END THE FED

[Roshibear]

What do you believe sound money really means, and how could ending the FED contribute to a sounder currency?

[momerath42]

I certainly don't agree with his vague nationalized banking industry notion, but at least this guy isn't just repeating one of the parties' talking points like Conn Carroll.

[cat00012000]

It is so good to see this being said in public.

[bluzy25]

get a new microphone, the sound is muffled.

[madebutante]

please support independent media like THE REAL NEWS. Please send them a large donation so they can preserve democracy and get new equipment. Thanks (a concerned American)

[TVParkdale]

egringo:

The problem with armed revolution is that it is invariably followed by a vicious civil war.

That allows imperialist aggressors to take advantage of the fall-out to suit their own agenda. Plus the cost of both throws countries into economic hardship.

I think you had a closer answer earlier which was communities coming together. Then, increasing their democratic processes and helping each other it will spread out in wider and wider circles as others see that we CAN make it better.