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

(2010/06/03) Analysis and warnings, we see it coming (Economics) (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

🗓️ 3 June 2010

⏱️ 68 minutes

🧾️ Download transcript

Summary

Edition #370
Analysis and warnings, we see it coming

Act 1: Hoarders - Daily Show
Song 1: Have you had enough - Rickie Lee Jones and The Squirrel Nut Zippers
Act 2: The banks still own congress - The Progressive
Song 2: What I am - Edie Brickell and New Bohemians
Act 3: Goldman fraud case - Colbert Report
Song 3: All apologies - Nirvana
Act 4: Greece falls, the US may be next - Young Turks
Song 4: Curl up and die - Relient K
Act 5: Ian Bremmer interview - Daily Show
Song 5: TV Trays - Death Cab For Cutie
Act 6: Loan sharks manipulate people - Rachel Maddow
Song 6: Hey Ya - Obadiah Parker
Act 7: Simon Johnson, 13 Bankers - Colbert Report
Song 7: Torn Blue Foam Couch - Grand Archives
Act 8: Taxes - Daily Show
Song 8: Class Warfare - Chris Priest
Act 9: Reform bill is a joke - Young Turks

Bonus iPhone/iPod Touch App Content:
Greece Wither Soon - Scheherazade Rehman - Colbert Report

Produced by:
Jay!

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Transcript

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0:00.0

This program is made possible by the support of the members of the show for

0:04.4

details or to sign up visit the membership tab at BestOfTheLeft.com. Now

0:09.0

welcome to the award-winning BestOfTheLeft podcast with clips today from

0:12.6

the Daily Show, the Progressive, the Colbert Report, the Young Turks and the

0:16.8

Rachel Maddo Show with a bonus video clip for our iPhone app users from the

0:21.3

Colbert Report. Please listen closely at the end of the show as I have a couple of

0:25.6

big announcements.

0:30.0

You remember a little more than a year ago we gave a Bank of America city group

0:33.9

JP Morgan Chase and Goldman Sachs somewhere between 10 and 25 billion dollars

0:40.2

a piece to stave off a catastrophic implosion of their bonus system. I mean the

0:47.7

economy which apparently depends on them. Well good news although the

0:51.9

economy remains volatile as evidenced by last week's 20-minute thousand point

0:56.1

still hauntingly unexplained stock market drop. One sector of the economy appears

1:01.6

to have stabilized. Bank of America Goldman Sachs city group and JP Morgan have

1:06.5

just pitched a Wall Street equivalent of a perfect game. The big banks made

1:10.3

money every single day last quarter, zero days of losses, no days in the red

1:15.4

every day in the black. Yeah perfect game. Pitched by four separate teams on 61

1:22.2

consecutive days. It's just though the rules are set up to make it illegal for

1:26.8

the opposing team to use bats. February 16th earnings and manufacturing data

1:32.6

comes in better than expected. The stock market went up 170 points. It's no

1:35.7

surprise the banks would make money on that day but on February 4th unemployment

1:39.1

news sends the market down to it at 68 points. The banks still made money. March

...

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