Five Ways Wall Street and Washington Set Us Up for the Crash: Author Nomi Prins Explains Where Congress Went Wrong on Lending
The worst of the economic crisis may be far from over. That was the message of Federal Reserve Chairman Ben Bernanke Tuesday. He indicated that the housing and financial turmoil will persist deep into next year. The Senate, meanwhile, is deliberating a bill this week that would provide government-backed loans to 400,000 homeowners on the brink of foreclosure. We speak with former investment banker turned journalist and author, Nomi Prins, about "Why the Economy Went South." [includes rush transcript]
"Failing upwards" which Mother Jones' David Cord describes Rep. Phil Gramm who managed to slip past Congress and get passed the disasterous 'Modernization of Securities Trading' bill at the end of 2000 which deregulated the Market and allowed the 'Swap' provisions that led to the derivatives and CDO housing crisis -- that's a GREAT symptom of how corrupt & dysfunctional our economic & political system has become and WHY the Occupy movement is so dynamic & powerful.
starmanskye 4 months ago
...and this aired July, '08 !... it is 2011 and the World is in flames !...
Will224000 1 year ago
@maurieer and hot
DREwestcoast 1 year ago
Nomi certainly knows what she talks about.
maurieer 1 year ago
Can't wait to buy her last book! Wished that we had her here in The Netherlands in stead of the wet towel Wouter Bos, who is now running the Financial Department.
Go Nomi, Go!!
Ave, Evocatus
EvocatusNL 2 years ago
Maay Jah bless her for going public to EXPOSE this SHITSTEM so that we the DOWNPRESSED can OVERSTAND how they keep us DOWNTRODDEN !!!!!!!
juncalito39 2 years ago
Nomi Prins is one VERY smart person.
anolmec 2 years ago
Jah bless the people that expose this SHITSTEM & how the very few wicked OPPRESS the DOWNPRESSED.... Jah gov't will come DOWN and rule the WORLD !!
rastaman39 2 years ago
very informative, she knows her stuff
TyredUvBS 3 years ago