Monday, October 26, 2009

Capitalism in this Recession

Investigative journalist Leslie Cockburn examines Wall Street and Main Street, visiting defectors from Bear Stearns, Standard and Poor's, and other high-level players in the subprime mortgage gamble and working-class Americans on the flipside.

( Financial journalist Andrew Ross Sorkin discusses his investigation into what really happened one year ago during the financial collapse and bailout. That's the epic tale he tells in his new book Too Big To Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System — and Themselves.

(Politico) The biggest decision of the economic recovery will be made in the next six months, and Barack Obama will have almost nothing to do with it. Forget the debate over TARP, and never mind the questions about a second stimulus. This decision is about when to pull out $1 trillion that’s propping up the U.S. banking system. And it will be Federal Reserve Chairman Ben Bernanke and his Fed colleagues who make the call. That’s hard enough for a White House that knows its political fortunes rise and fall with the economy. More>>

Michael Moore's new film explores the root causes of the global economic meltdown. It takes a comical look at the corporate and political shenanigans that culminated in what Moore has described as the biggest robbery in the history of this country the massive transfer of U.S. taxpayer money to private financial institutions.