#1213 Ten Years On (The Financial Crisis and Disastrous Recovery)
Best of the Left - Leftist Perspectives on Progressive Politics, News, Culture, Economics and Democracy
Jay Tomlinson
4.5 • 3.4K Ratings
🗓️ 25 September 2018
⏱️ 80 minutes
🧾️ Download transcript
Summary
Air Date: 9/25/2018
Today we take a look at where we stand, now ten years on from the beginning of the Great Recession in 2008. Inequality has spiked, the banks are more profitable than ever and not a single banker went to jail for fraud. Now we must look ahead to how we can better manage the next inevitable crash.
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SHOW NOTES
Angie Coiro reading quotes from insiders from Lehman Brothers on the risks being taken before the crash and noting the spike in inequality in its wake.
Ch. 2: Nomi Prins on the fallout of the bank bailouts - @ThisIsHellRadio - Air Date 5-8-18
Journalist Nomi Prins explains how central banks bought world power in an age of global crisis. Nomi is author of “Collusion: How Central Bankers Rigged the World” from Nation Books.
New York Times columnist David Leonhardt argues that the financial crisis is not over, despite what standard economic measurements show, and points to alternative ways to measure GDP.
On the 10th anniversary of the financial crisis, Harold Meyerson argues that the recovery was a disaster all over again—and that we are still suffering from its political consequences. Harold is Executive Editor of The American Prospect.
Not long after the financial crash of 2008, I heard someone say, “It’s easier to imagine the end of the world than the end of capitalism.” Is it?
Ch. 6: The Left Must Get Ready to Seize the Next Financial Crisis - @TheRealNews - Air Date 7-22-18
Thomas Hanna: When the next global financial crisis hits, we need to be prepared to nationalize the banks and create a public banking sector, which will not only be a way out of the crisis but will also help prevent future crises.
Ever wonder why no bankers went to jail after the 2008 financial crisis? Investigative journalist, Jesse Eisinger, tells us why in his book, “The Chicken Shit Club.”
Ch. 8: Why aren't more dishonest bankers in jail? - The Inquiry - Air Date 7-4-16
If you could find a way to nudge bankers towards better and safer choices, building a culture of integrity, you might avoid future financial trouble. But can you make bankers behave better?
VOICEMAILS
Ch. 9: Further clarification on social democracy - Jeff from New York
Ch. 10: Final comments on the definitions of Democratic Socialism, social ownership and the future of cooperative ownership
THE MIDTERMS MINUTE
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Written by BOTL Communications Director Amanda Hoffman
MUSIC:
- Opening Theme: Loving Acoustic Instrumental by John Douglas Orr
- Denzel Sprak - CloudCover (Blue Dot Sessions)
- Interlude - The Nocturne (Blue Dot Sessions)
- Sunday Lights - Onesuch Village (Blue Dot Sessions)
- Open Flames - Aeronaut (Blue Dot Sessions)
- Tar and Spackle - Plaster (Blue Dot Sessions)
- Glass Beads - The Balloonist (Blue Dot Sessions)
- Heather - Migration (Blue Dot Sessions)
- Voicemail Music: Low Key Lost Feeling Electro by Alex Stinnent
- Closing Music: Upbeat Laid Back Indie Rock by Alex Stinnent
Produced by Jay! Tomlinson
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Transcript
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| 0:00.0 | Today's show is supported by Pipeline, coming to Moory theaters this October. |
| 0:07.5 | Lincoln Center theaters acclaimed staging tackles the school to prison pipeline to pick |
| 0:13.1 | a mother's hopes for her son and their clash with an educational system rigged against |
| 0:17.9 | him. |
| 0:18.9 | Held as potent and intensely acted by the New York Times, Pipeline is available in select |
| 0:23.9 | theaters nationwide October 3rd, 5th, and 7th. |
| 0:28.2 | Pipeline in cinema.com for tickets and more information including a powerful one minute |
| 0:34.6 | trailer. |
| 0:35.6 | That's Pipeline in cinema.com. |
| 0:39.0 | And now welcome to this episode of the award-winning Best of the Left podcast in which we shall |
| 0:43.4 | learn about where we stand now 10 years on from the beginning of the Great Recession in |
| 0:48.2 | 2008. |
| 0:49.2 | Inequality as spiked, banks are more profitable than ever and not a single banker went to |
| 0:54.0 | jail for fraud. |
| 0:55.4 | And we also look ahead to how we can better manage the next inevitable crash. |
| 1:00.0 | Clips today come from the Bradcast, This is Hell, The Brian Lairer Show, Startmaking Sense, |
| 1:05.7 | The Laura Flanders Show, The Real News Network, The Ralph Nader Radio Hour, and The Inquiry. |
| 1:13.3 | Marker Caledars has been 10 years since the collapse of Lehman Brothers. |
| 1:21.2 | One of the voices saying that it could happen all over again, she was actually on the scene |
| 1:24.7 | for that. |
| 1:25.7 | And I hope I'm pronouncing her name correctly. |
| 1:27.4 | Madeline and Tonchick was the chief risk officer at Lehman Brothers from 2002 until 2007. |
... |
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