William Greider on PBS Bill Moyers Journal Tonight !

[Better Believe It]

William Greider on Bill Moyers Tonight

For years Nation national affairs correspondent and best-selling author William Greider has sounded the alarm about Washington's unholy alliance with Wall Street and the failure of the Federal Reserve and other regulators to take preventative measures to avoid disaster. Now, in an exclusive interview tonight on PBS' Bill Moyers Journal he offers suggestions to the question everyone is asking: "What do we do now?"

Check out the interview tonight, March 27, on PBS. The show is also re-broadcast in many places on Sunday evenings. Check local listings or the show's website to confirm air-time in your area.

[omega minimo]

1. must see

[avaistheone1]

2. I hope this broadcast is repeated. I really like Greider's work.

[Better Believe It]

3. Watch the Bill Moyers interview of William Greider at this link!

March 27, 2009

For years best-selling author William Greider sounded the alarm about Washington's unholy alliance with Wall Street and the failure of the Federal Reserve and other regulators to take preventive measures to avoid disaster. Now, he offers some suggestions to the question everyone is asking: "What do we do now?"

Watch the TV interview and/or read the full transcript at the following link:

http://www.pbs.org/moyers/journal/03272009/watch2.html

[burythehatchet]

4. Obviously a PUMA

right?

[FailureToCommunicate]

5. Thanks, I saw it. "Obama's bank plan puts him on the wrong side of history" No

Nobody wants that said of them. Guess his fiscal team needs a few more late nights working on a better plan!
PS if you're watching Saturday night remember to turn off lights between 8:30 and 9:30.

[grasswire]

8. that's not what he said

He said Obama's plan puts the DEMOCRATIC PARTY on the wrong side of history.

[FailureToCommunicate]

10. Right. The "him" should have been "them". Unfortunately, history has a fickle

way of assessing blame...

[slipslidingaway]

6. A bailout of Bear Strearns or JPM...

"WILLIAM GREIDER: Unfortunately, Secretary Geithner, has a record- which we know about. When he was President of the New York Federal Reserve Bank. And he was at the table, in many of the bailout transactions. First Bear Stearns then A.I.G. and others. And this is, again, not my opinion, but people on Wall Street talk about it all the time. He got spun around again and again by the big Wall Street players. The bailout of Bear Stearns was really about protecting J.P. Morgan Chase.

The story was told backwards in the press, basically, because it's a story the government told that J.P. Morgan came in to buy Bear Stearns at the behest of the government. But in fact, if Bear Stearns had gone down, J.P. Morgan Chase was vulnerable itself to a wave of derivative crashing crisis. When they bailed out A.I.G., the chief executive of Goldman Sachs was in the room. Why was he in the room? Well, because he had big exposure to- through derivatives, to A.I.G. So, when they pump money into A.I.G., it sends the same dollars out and buys back these derivative contracts at par value, not even discounted, to the banks and others who hold them. Goldman Sachs gets $12 billion out of that transaction. This is another scandal waiting to surface. And I trust good, smart reporters are already on the case. And following the dollars that moved around among the leading financial institutions in ways that politicians could not have not known about it. It defies reason to think that Washington didn't know this was happening..."

[Mass]

7. Thanks. The best line of the interview is the call for people to make their opinion known

to make sure that Obama and other Democrats hear them and also get some cover to do the right thing.

Not a popular opinion with some here, I know, but for some reasons, I think Obama would agree with him.

[omega minimo]

9. link to GD thread with whole thing

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x5345808