(2010/01/09) When you want to cry, laugh (MP3)
Best of the Left - Leftist Perspectives on Progressive Politics, News, Culture, Economics and Democracy
Jay Tomlinson
4.5 • 3.4K Ratings
🗓️ 9 January 2010
⏱️ 63 minutes
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| 0:00.0 | This episode is brought to you by GoSim. Visit GoSim.com slash Best of the Left to start saving 85% on calls when you travel abroad. |
| 0:09.0 | Now, welcome to this slightly too funny edition of the award-winning Best of the Left podcast. |
| 0:14.5 | With clips today from the Daily Show, This American Life, The Onion Radio News, The Colbert Report, and The Young Turks. |
| 0:21.0 | Because when you think about the economy and want to cry, the best thing to do is laugh. |
| 0:30.0 | But tonight, let's begin with the economy and our ongoing segment. Cluster **** to the poor house. |
| 0:45.0 | All right. I think that was a real drywall for God's sakes. |
| 0:50.0 | Do you remember last year when all the banks were going broke, the big banks, and we gave them like $700 billion with zero interest and no strings attached. |
| 0:59.0 | So that they would have some money to lend back to us at between six and 30% interest. |
| 1:10.0 | But we had to do it. To avoid a worldwide financial market meltdown. A post apocalyptic dystopian future where roasted squirrel meat would be our currency. |
| 1:23.0 | Mmm. Also a Hanukkah treat. |
| 1:35.0 | Well, a year later, I am happy to report the banks are doing great. They're paying back the money we lent them. |
| 1:43.0 | They're posting record profits. I guess the one thing they forgot to do was start loaning the money that we gave them back to us. |
| 1:51.0 | Or changing their risky business practices or curtail in any way their grotesque myopic and ultimately destructive financial incentive structure. |
| 1:58.0 | Well, funny story. Look out Wall Street because the president has had enough. |
| 2:06.0 | I did not run for office to be helping out a bunch of fat cat bankers on Wall Street. |
| 2:14.0 | I guess I guess it just happened to work out that way. Happy accident. |
| 2:21.0 | Well, the free ride is over the bitchies. On Monday, the president of these United States summoned the heads of the biggest financial institutions to a no holds barred breakfast meeting at the White House in the Roosevelt room where the president would finally force the banks to make good. |
| 2:43.0 | On the promises that we never made them make. |
| 2:50.0 | And when the most powerful man in the world says jump. What are the CEOs of the three biggest financial institutions say? |
| 2:57.0 | Three of the top bankers invited to the White House. Fairly won't be able to attend in person because their flights were delayed due to bad weather. |
| 3:09.0 | Yesterday was sunny. Yesterday was a nice day. Unless you were flying down to Washington, Icarus style on wings of wax. |
| 3:22.0 | And you were concerned there might be a little meltage. I'm not biting. |
... |
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