"Failure of Epic Proportions": Treasury Nominee Jack Lew's Pro-Bank, Austerity, Deregulation Legacy
Former bank
regulator William Black and Rolling Stone's Matt Taibbi join us to
dissect the career of Jack Lew, President Obama's pick to replace Treasury
Secretary Timothy Geither. Currently Obama's chief of staff, Lew was an
executive at Citigroup from 2006 to 2008 at the time of the financial crisis.
He
backed financial deregulation efforts while he headed the Office of Management
and Budget under President Bill Clinton. During that time, Clinton enacted two
key laws to deregulate Wall Street: the Financial Services Modernization Act of
1999 and the Commodity Futures Modernization Act of 2000. Black, a white-collar
criminologist and former senior financial regulator, is the author of The
Best Way to Rob a Bank Is to Own One. A contributing editor for Rolling
Stone magazine, Taibbi is the author of Griftopia: A Story of Bankers,
Politicians, and the Most Audacious Power Grab in American History. Watch/Listen/Read
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Saturday, January 12, 2013
"Failure of Epic Proportions"
Worth reading or listening to if you care about Treasury policy and how it will impact our future:
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