Why Federal Reserve Bankers Should be Arrested for Corruption
The Socialist Program with Brian Becker
The Socialist Program
4.7 • 587 Ratings
🗓️ 27 October 2021
⏱️ 33 minutes
🧾️ Download transcript
Summary
On today's episode Brian and Prof. Richard Wolff discuss how the Federal Reserve has been forced to announce new ethics rules after a scandal over financial trading conducted by high-ranking officials led to the resignation of two regional bank presidents. But will this really prevent Fed officials from using their positions of power to get rich?
Professor Richard Wolff is an author & co-founder of the organization Democracy at Work. You can check out his work at rdwolff.com.
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Transcript
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| 0:00.0 | The Federal Reserve has been forced to announce new ethics rules after a scandal over financial |
| 0:07.3 | trading conducted by high-ranking officials led to the resignation of two regional bank presidents. |
| 0:14.8 | But will this really prevent Federal Reserve officials from using their positions of power to further enrich themselves. |
| 0:24.2 | We need a new system. We need a new society. We need to demand that which may have sounded |
| 0:30.4 | impossible even a few weeks ago, but is not only realizable, but an imperative necessity. |
| 1:10.8 | Music not only realizable but an imperative necessity. Deepening unemployment, a looming wave of evictions, massive and widening inequality. There's no denying it. Capitalism is in crisis and capitalism is the crisis. We are very excited to have Professor Richard Wolfe join us for a regular weekly segment |
| 1:15.3 | where we talk about the biggest stories related to the economy, the state of the working class, |
| 1:21.1 | and the crimes of big business. |
| 1:23.2 | I'm your host, Brian Becker. |
| 1:25.2 | The Socialist Program brings you content three days a week, thanks to the support of our patrons |
| 1:29.8 | at patreon.com forward slash the socialist program. |
| 1:34.2 | We appreciate all of your support and encourage you to become a patron today if you enjoy |
| 1:39.6 | listening to this show. |
| 1:41.7 | Richard Wolf is the co-founder of the organization Democracy at Work and the author of many |
| 1:46.1 | books, the latest being, The Sickness is the System, when Capitalism Fails to Save Us |
| 1:52.0 | from Pandemics or itself. |
| 1:54.3 | And a new hard copy edition of Professor Wolfe's book, Understanding Marxism, has just |
| 2:00.2 | been released, which features a new, lengthy introduction, |
| 2:04.3 | which strengthens the case for why Marxism is worth understanding. You can check out all of his work |
| 2:10.6 | at R-D-Wolf.com. That's R-D-W-O-L-F-F.com. Professor Wolf, welcome back. Thank you, Brian. Glad to be here. Thank you so much for |
| 2:21.6 | joining us once again. Richard, I'm looking at Financial Times, a British financial paper, |
| 2:28.8 | an important paper for people who want to stay on top of things in the economy. Here's from an article that came out a |
... |
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