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Dylan Ratigan, host of of MSNBC's "The Dylan Ratigan Show," talks about his new book: Greedy Bastards: How We Can Stop Corporate Communists, Banksters, and Other Vampires from Sucking America Dry.
Brian's point that the banksters were stupid to bet on the same instruments they tried toget rid of and Dylan's that the business was one of manufacturing debtare not mutually exclusive:The banksters were churning out toxic assets until there was a market for them.Then, when the music stopped, they were caught dancing with no partner (paraphrasingChuck Prince), and stuck with huge holdings of such assets. We know what the panic on the impact of those assets in their balance sheets led us.
LISTEN TO PODCAST INDEPENDENTLY... USE VLS PLAYER.MEDIA > OPEN NETWORK STREAM > ENTER NETWORK URLhttp://www.wnyc.org/audio/m3u/180918/
very simplevery free choicevery independent
Those of you listening to this should make up your own minds about what vulture investing is. Here is an excellent study on the subject:
Bankster is a pun on the word gangster; it does not rhyme with it, contrary to what Brian Lehrer said.
Wow... this guy was great and informative. I agree that the 'money is speech' decision is the fundamental problem and DR offers a very cogent critique and political plan... I hope you have him on again... in fact he would make a good once a month guest.
Vain Capital will be the Bain of Mitt Romney's existence for the next nine months.
In this morning's interview, Mr. Ratigan referred to New York as the standard-bearer for democracy. How does he square that sentiment with the findings of the Brennan Law Center at NYU which refers to the New York State Legislature as the most dysfunctional in the nation?
Dylan Ratigan will talk for hours about how much he loves his grandma. Then go home, make her make him a sammich, then put her on the curb to fend for herself.
Campaign Finance Laws target insurgent candidates and parties.The first federal campaign finance law was designed to prevent another Gene McCarthy campaign.McCain-Feingold was designed to felonize another Ross Perot campaign.It forced thee Libertarian Party to reorganize itself to comply with it's complex ambiguities.The incumbent legislators won't hamper their own money raising.They will use complex finance penalties and ballot access laws to stop non-established opponents.The Founders anticipated this when the 1st Amendment prohibited regulating speech.I don't want a constitutional amendment to repeal the 1st Amendment.
Bravo!Mr. Radigan has it right!I would suggest a constitutional amendment should create the requirement that all federally elected positions be fully financed by the federal government, and that all outside election financing be banned. How to make such a system work fairly will be tough but we need to get the money out of politics so the effort will be more than worth it.
I wish I could believe that this proposal for a constitutional amendment could work. The fact that big money movers can buy political movements...the Koch brothers financing the organization of the tea party--giving jobs to people to model the message...so that it reflects their own interests means that it could never work. We are in a hopeless situation. Until the levels of unemployment/underemployment is much higher, which will happen in the next generation if not the next 10 years, NOTHING will be accomplished in this country.
The politics is a bit abstract, but engaging, but really what's missing is any role for our living in a physical world.
We have a growing energy using economy, that produces vast explosions of profit for the oil companies each time we notice that our oil reserves are running out. We do this over and over, repeating the pattern of most of the dramatically failing societies of history. It's well studied, but totally undiscussed.
What could be clearer evidence of how deranged our culture is.
He's speaking as if outraged that debt was commoditized.
In reality, collateralized debt is one of the last things in our lives to be commoditized. Food and global air and water pollution are completely removed from the community and have been for several generations. Borrowed Money is just the latest limb to be removed.
A friend posted this: "It seems to me that the left believe in capitalism a lot more than the right does. We seem to think that it should be able to provide for people after they finish their working life. That it can provide a wide spectrum of society a decent income and decent opportunities. It's the Right that seems to think that capitalism is so broken that everyone has to live on [crap] wages, no job security and no pension provision (might as well disappear once you outlive your usefulness, eh?"
Agree on the sentiment but not all the details. Let's not blame just the Dems...Republicans managed to double the debt under the Bush administration, and a large portion of the deficit spending now has to do lower tax receipts due to the recession and to the inverse obsession with lowering taxes, particularly on the rich. If Dems really had the power to raise taxes endlessly, hedge fund and private equity managers wouldn't be paying 15% on their income while the middle class pays up to 35%.
@hjs11211 - What consumer would actually choose HIGHER cost goods? What planet are you from? Is their a level playing field between the US and our trading partners? I have contended that it is not but our Congress is to blame for that. Assurances that protected our labor and the environment were stripped out. The part that the American consumer is supposed to take responsibility for is to re-tool the surplus labor into more effective earners. But most out-of-work folk spend as much time porn-surfing our pirating video rather than getting certified in a new skill.
Phoebe,Where I'm trending also.Add: Public funded media like the BBC, that supposedly wouldn't be owned by capitalism.
Once you say that government can control corporate speech, how do you prevent the goverenment from regulating the New York Times?
This is very similar to the argument made the other day by Lawrence Lessig. We better deal with getting money out of politics or we're doomed.
Wouldn't it just make sense to have an amendment that says corporations/non-profits are not people? Unless you have heartbeat you are not a person
why not eliminate private donations from elections entirely. How about strict equal public funding for all candidates.
THIS GUY NEEDS TO SHUT UP. HES THE NEW FACE OF CORPORATE FASCISM IF THERE EVER WAS ONE.
A wonderful riposte to the naive & uninformed Adam Davidson.
isn’t the real trouble with america that people WANT to buy cheaper chinese goods, rather than paying more for goods their neighbors made
Ask him to use sentence with the word "Harkens"
ppl like Dylan Ratigan releasing these types of books to boost their national presence after coming to term with the fact there is only 1 David Letterman on TV is what's wrong with this country...it's just a matter of time before readers understand this.
Are you suggesting that the federal reserve only prints money while Democratic presidents are in office or when the Democratic party controls Congress? Or maybe, are you suggesting that printed fiat money and taxes are only used to pay for liberal programs vs. say wars, tax breaks for oil companies, and Wall Street bailouts?
Ask him what he thinks of the illegal surveillance cameras his show Fast Money installed into a certain brokerage firm at 780 3rd Ave during the years 2008-2009. The man has willfully participated in illegal eavesdropping - not to mention his famous on-air outbursts that eventually cost him his job at fast-money on the Fox Biz equivalent channel cnbc.
now he's put out a book, this book has been in the works since late 2008, no doubt. Would love to hear more from him, he's full of S*.
More MSNBC humbug.
Obama asked for another 1.2 TRILLION in additional debt yesterday (gee, not a big headline in his protective mainstream/public radio media)….it’s the THIRD increase since the ceiling was raised in August! (400B in August, 500 B in September)
And unlike the investment community, the Democrats in Washington can (A) print money at will, (B) raise taxes endlessly, and (C) hand out government money and exemptions to different voting blocs to buy their re-election and keep their jobs indefinitely.
Who are really the “greedy bastards” here?
"'Greedy Bastards' and Other Vampires ... Sucking America Dry." Seems like the title for the show that blows the lid off Cristine Quinn and her band of merry embezzling pirates on the City Council (including its alumni, e.g., Yasssky, Liu, and DelBlasio)
And what was the total legal bill paid by City funds for these clowns?http://www.nypost.com/p/news/local/slush_fund_hangover_vdeOps2zPN4vDgHUQO1FLK
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