(2011/01/26) Wide Angle Lens (Economics and 5-Year Anniversary Show!)
Best of the Left - Leftist Perspectives on Progressive Politics, News, Culture, Economics and Democracy
Jay Tomlinson
4.5 • 3.4K Ratings
🗓️ 27 January 2011
⏱️ 73 minutes
🧾️ Download transcript
Summary
Edition #449
Wide Angle Lens
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Act 1: A problem with capitalism – Young Turks
Song 1: Crash Into Me – Crash
Act 2: Reaganomics trickle down – Rachel Maddow
Song 2: Return To Innocence – Love Sensuality Devotion – The Greatest Hits
Act 3: Comparing European and US social safety nets – Mike Malloy
Song 3: Stand – In Time – The Best of R.E.M. 1988-2003
Act 4: Special Report on debt – Countdown
Song 4: Borrow – My Old, Familiar Friend
Act 5: If the lives of the rich depended on the poor Part 1 – Common Sense
Song 5: Robin Hood – Vintage Children’s Favourites
Act 6: US Middlemen demand protection from being cut out – The Onion
Song 6: Cut It Out – Slow & Steady Seduction: Phase II
Act 7: If the lives of the rich depended on the poor Part 2 – Common Sense
Jay’s Special Radio Story
Bonus iPhone/iPod Touch App Content:
Interview with David Stockman – Colbert Report
Sources:
The Young Turks
Rachel Maddow
Mike Malloy
Countdown
Common Sense
The Onion
Produced By:
Jay!
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Transcript
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| 0:00.0 | This program is made possible by the members and donors to the show for details visit |
| 0:06.1 | the membership tab at BestOfTheLeft.com. |
| 0:09.1 | Now welcome to the award-winning BestOfTheLeft podcast with clips today from the Young Turks, |
| 0:13.5 | the Rachel Maddo show, Mike Maloy, Countdown with Keith Olverman, Common Sense with Dan |
| 0:17.7 | Carlin, and the Onion Radio News with a bonus video clip for our Apple iOS and Android |
| 0:23.0 | app users from the Colbert Report. |
| 0:30.0 | I want to tell you about a problem in capitalism today. |
| 0:32.3 | I love capitalism. |
| 0:33.3 | I think it's the economic system that best fits human nature, but it is developed a virus |
| 0:38.6 | that threatens the whole system, and we've got to fix it so we can save capitalism. |
| 0:43.8 | Today Goldman Sachs came out with a report that criticizes some banking regulations. |
| 0:48.0 | The regulation in essence would require them to keep a certain amount of money in the |
| 0:52.0 | bank to pay people if their bets go the wrong way. |
| 0:55.1 | Now that's incredibly logical. |
| 0:56.9 | The lack of cash to pay off positions is part of what brought down Lehman Brothers and |
| 1:01.0 | consequently the whole system with it. |
| 1:04.2 | But Goldman isn't concerned with logic, they're concerned with profits. |
| 1:07.9 | The more they can gamble, the more they can win. |
| 1:10.6 | Now to be accurate, it's not really how much Goldman can win, it's how much the executives |
| 1:15.2 | who work there can win, and take home. |
| 1:18.2 | This is actually the problem in our system that is threatening the heart of capitalism. |
| 1:22.8 | The executives and publicly traded companies don't have skin in the game. |
... |
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