BILL MOYERS JOURNAL | Preview: Simon Johnson & Michael Perin

http://www.pbs.org/billmoyers Buy the DVD: http://www.shoppbs.org/entry.point?entry=3537143&source=PBSCS_YOUTUBE_BMJ... Special preview clips: This week, the Senate responded to the growing demand for a new Pecora Hearing, the 1930s investigation into the causes and effects of the Great Depression. A 92-4 vote in the Senate supported the creation of a bipartisan and independent commission to investigate wrong doing in the lead-up to the economic crisis. For context, Bill Moyers speaks with economist Simon Johnson and Ferdinand Pecora biographer and legal scholar Michael Perino. Johnson is a former chief economist of the International Monetary Fund (IMF) and a professor at MIT Sloan School of Management, and Perino is a professor of law at St. John's University and has been an advisor to the Securities and Exchange Commission.. Airs April 24, 2009. Bill Moyers Journal airs Fridays at 9 p.m. on PBS (check local listings). For more: http://www.pbs.org/billmoyers

Category:

News & Politics

Tags:

• simon Johnson
• Michael perino
• Ferdinand pecora
• pecora hearings
• bill moyers journal
• bailout
• wall street
• crisis

[edsch21988]

good point

[sleestack808]

Aren't they buying a lot of control from the government though.

[JixMa]

@PaulLeary

Yes, Bill Moyers is of the old school of journalists (and sadly one of the last) that knows what news is worthy of reporting. The mainstream media has been taken over by corporations and they only want reported "human interest" type stories to fill people's heads with pablum and propaganda. They just want a dumbed-down, uninformed, populace good only work, consume and reproduce (to make more sheeple for them). We live in world of Orwell's "1984" "Network" and "They Live".

[PaulLeary]

Bill is one of the only people who can calmly articulate what's going on here!

[JixMa]

[3] Simon Johnson is so right! The bankers have won! They got everything they wanted & lost nothing. Now, with some banks that were allowed to go under, the ones that remain are even more powerful than before. What should have happened was that Washington should have taken an axe to the big investment banks & Wall St. and cut them up into a million pieces like you're supposed to do with any monopoly. When govt worked for the people's interests, it did this to the likes of Standard Oil & Ma Bell.

[JixMa]

[2] Also, I feel that the bankers should not have been bailed out to profit from their incompetence and downright greed. They should have lost their shirts for their misdeeds. How I so hate what those in Washington have done to reward greed and corruption. They're criminals themselves to have taken bribes from bankers and Wall St. to tear down all the regulatory mechanisms that were put in place during The Great Depression, to have allowed all the corruption to have gone on in the first place.

[JixMa]

[1] I watched this last night when it aired on PBS. This episode of "Bill Moyers Journal" was another great one! I so agree that the banks out to be broken up into two types like Simon Johnson suggests. One very safe where we put our money. The other with more risk and fully disclosed as to what you're getting into with your investments. I also like Joseph Stiglitz's suggestion that commercial banks ought to be run like utilities.