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Best of the Left - Leftist Perspectives on Progressive Politics, News, Culture, Economics and Democracy

(2009/07/18) Reaping the results of corruption and greed (MP3)

Best of the Left - Leftist Perspectives on Progressive Politics, News, Culture, Economics and Democracy

Jay Tomlinson

Politics, News Commentary, News

4.53.4K Ratings

🗓️ 18 July 2009

⏱️ 74 minutes

🧾️ Download transcript

Summary

Edition #280 Reaping the results of corruption and greed Act 1: F#@ked or Fixed - Economic Crisis - Daily Show Act 2: Regulating AIG - Who fell asleep on the job? - NPR Act 3: Phantom Wealth - Thom Hartmann Act 4: Peter Shiff on the economy - Daily Show Act 5: Stuff the bankers, starve the kids - The Young Turks Act 6: Recession forces U.S. to dip into Guam - The Onion Act 7: Crazy Eddie's house sale - Slate Magazine - Slate Act 8: Justin Fox on the economy - Daily Show Act 9: Using psychology to save you from yourself - NPR Music: Perhaps, Perhaps, Perhaps - Cake Here it goes again - Ok Go Phantom of the opera - Me First and the Gimme Gimmes I stand corrected - Vampire Weekend Let go - Frou Frou We didn't start the fire - Billy Joel Crazy Maze - Desree Take a chance - The Magic Numbers Produced by: Jay! Thanks for listening! Visit us at www.BestOfTheLeft.com Contact me directly at Jay@BestOfTheLeft.com Vote for us and leave comments at www.PodcastAlley.com or Review the show on iTunes.

Transcript

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0:00.0

This episode is brought to you by the members of the Best of Left Podcast.

0:04.8

I'm not kidding around about that, I couldn't do this without them.

0:08.7

Welcome to the Best of Left Podcast with clips today from the Daily Show, NPR, Tom Hartman,

0:14.2

the Young Turks, the Onion Radio News, and Slate.com.

0:30.2

Remember last fall, the economic crisis, the entire financial system, the current collapse,

0:34.2

everyone pretty certain, one thing.

0:36.2

We need legislation that decisively addresses the troubled assets now clogging the financial system.

0:41.2

The risk of doing nothing is economic catastrophe.

0:44.2

It's a terrible situation and we need to fix it.

0:48.2

$850 billion in federal bailout money later.

0:51.2

Let's check in for an update on how those reforms are going in tonight's.

0:55.2

Perfect.

0:59.2

Of course, one of the main villains in the crisis was AIG,

1:07.2

a company which overextended themselves by writing banks, billions, and unpayable financial insurance contracts,

1:13.2

thus destabilizing our entire economy.

1:16.2

They were f***ed.

1:17.2

So, for $180 billion, the government took them over, and AIG is making some radical changes.

1:25.2

I think the AIG name is so thoroughly wounded, we've already begun the rebranding process to AIU.

1:35.2

$180 billion and all you come up with is, what do we change a letter?

1:39.2

Talk about buying a vowel.

1:44.2

You know what the U stands for? You've got some f***ing balls.

1:49.2

But all right, AIG, you fixed.

...

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