Nomi Prins: Too Big To Fail Means Too Big To Exist

http://ourfuture.org captures Nomi Prins, a former Wall Street insider who is now a senior fellow at Demos, speaking to the Economic Policy Institute about the state of the financial industry one year after the climax of the Wall Street meltdown. Prins explains why, in many ways, Wall Street is riskier today and more prone to take down the economy through its casino-like behavior than it was before the crash. Her new book, "It Takes A Pillage," proposes radical but necessary reforms of Wall Street. Also, the director of Americans for Financial Reform explains what activists can do on Capitol Hill to at least begin to change the financial sector.

Category:

News & Politics

Tags:

• financial reform
• Wall Street reform
• banking
• financial services
• Nomi Prins

[catexan]

"They're All Crooks" meaning: Republicans and Democrats... Not a dimes worth of difference between any one of them. Tom Campbell (R) is my Representitive and he is about as worthless as they come, not sure if he has a spine or a brain, he just kind of takes up space - Diane Finstein and Barbra Boxer are equally bad!

[catexan]

At 5:00 the guy says that the Glass Steagall Act was repealed in the 80"s - NOT!!!

[NYT caption:] Depression-Era Rules Undone Alan Greenspan, left, the Federal Reserve Chairman, and Congressional leaders applauded President Clinton yesterday after he signed the Financial Services Modernization Act, which allows merging of banks, securities firms and insurers. It repeals parts of the 1933 Glass-Steagall Act. Page C3

Trying to protect a Dem President? Won't work They're All Crooks!

[catexan]

It would be very interesting to see what action Nomi is doing to protect herself from the current blowup and the coming meltdown. The problems are becoming more evident, even to the hard headed, and the question is now..... what is the solution?