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Published on Monday, October 5, 2009 by GRITtv

Why the Banks Are Winning: Nomi Prins, Dean Baker, and James Mumm

Earlier this month and one year after the financial collapse Barack Obama told a group of Wall Street executives that he would not allow them to return to an age of excessive risk and disregard for the consequences of financial speculation. If only those words were true. Even as some kind of regulatory reform is hashed out in congress the banks have gotten bigger and are taking on more risk-much of it with the knowledge that if things go wrong the government, with the aid of the American taxpayer, will be there to bail them out. How can it be?

Nomi Prins, author of It Takes a Pillage: Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Streetir?t=lauraflanders-20&l=as2&o=1&a=0470529598, James Mumm, Organizing Director at the National Training and Information Center, and Dean Baker, Co-Director of the Center for Economic and Policy Research and the author of Plunder and Blunder: The Rise and Fall of the Bubble Economyir?t=lauraflanders-20&l=as2&o=1&a=0981576990 on why the economy hasn't been "fixed" and Wall Street is celebrating.

 

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