Saturday, May 18, 2013

Think The Big Banks should be broken up? You're in good company.

If Republicans, Democrats, Independents, FDIC Chairs, Bankers, the Inspector General for TARP, Nobel Prize-winning economists, muckrakers, economics professors, Occupiers, and Tea Partiers all agree that the big banks should be broken up, you've got to think twice before disagreeing.

0:07 -- Bill Moyers (PBS) and Matt Taibbi (Rolling Stone discuss how little has changed since 2008.
0:27 -- Robert Reich (fmr Labor Sec) explains why we need to break up the biggest banks
0:47 -- Sandy Weil (founder, Citi Bank) explains why he wants the banks to be broken up
1:04 -- Byron Dorgan gives the successful history of breaking up the banks.
1:32 -- James Rickards lists the folks who allowed the banks to get big again.
1:41 -- James Komansky (fmr CEO, Merril Lynch) regrets his decision to allow banks to get big again.
1:57 -- Luigi Zingales (economist, Univ. of Chicago) on the danger of consolidated banks.
2:13 -- Sheila Bair (fmr FDIC Chair) on why she would like to see the banks broken back up.
2:18 -- Nassib Taleb (NYU professor) calls the big banks a "cartel."
2:30 -- Joseph Stiglitz (Nobel laureate, Columbia economist) on why we don't have ordinary capitalism when banks are so big.
2:40 -- Nouriel Roubini (NYU economist) "if institutions are too big to fail, they are too big."
2:54 -- Simon Johnson (MIT economist) wonders if bigger really is better.
3:18 -- Neil Barofsky (TARP inspector) explains exactly what needs to happen.

A few of the politicians who want to end TBTF
3:41 -- Elizabeth Warren
4:00 -- Bernie Sanders
4:17 -- Ted Kaufman
4:32 -- Sherrod Brown
4:44 -- (quotes Alan Greenspan)
4:50 -- David Vitter (quotes George Will and Maureen Dowd)

5:29 -- Robert Reich drives it home
5:42 -- Now what?
5:49 -- "After the Great Depression we broke up the banks. We should do that again."