Mon 12 Oct 2009
Bill Moyers sits down with Simon Johnson and Marcy Kaptur
Posted by Prieur du Plessis under Investment, Markets, Money
Just over a year after economic calamity brought promises of reform to Washington, many now say that the recession is nearing an end. But is it business as usual for Wall Street, and have future financial crises been averted? Former International Monetary Fund chief economist Simon Johnson and US Rep. Marcy Kaptur (D-OH) join Bill Moyers for a report card on the bailouts, an update on the state of the U.S. economy, and to find out whether efforts of reform have been derailed.
Click here or on the image below to view the video clip
Click here for the full transcript.
Source: PBS, October 9, 2009.
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October 12th, 2009 at 8:41 pm
Prieur - glad you posted this. It’s well worth watching and highlights some critical relationships for the future (& nicely complements Andy Xie’s article in your readings). While there are no distortions it’s a little over the top - my feeling is that the groundswell of a backlash is still building and the delays in regulatory reform were more due to queing problems than any lack of concern. So watch this space. Meanwhile there’s the associated problem set of badly broken and flawed business models for much of the Industry as well as loan losses and frayed balance sheets. Two essay collections that take a look at these issues are:
http://www.scribd.com/doc/20018385/Facing-the-Firestorm-Finance-Industry-Popular-Anger-and-Re-regulation
http://www.scribd.com/doc/18645321/The-Corporation-vs-Society-Performance-Social-Responsibility-and-the-WinWin
October 13th, 2009 at 12:37 am
I wanted to email Marcy Kaptur to say her comments were correct and very relevant. Unfortunately, I apparently cannot email her since I don’t live in Ohio. Maybe Mr Dimon had a similar problem.