Thursday, March 22, 2012

  • "Too Crooked to Fail": Matt Taibbi Says Bailouts, Fraud are the Secrets to Bank of America’s Success

    Button-boa-anonymous

    In his new article, "Bank of America: Too Crooked to Fail," Rolling Stone reporter Matt Taibbi chronicles the remarkable history of the rise of Bank of America, an institution he says has defrauded "everyone from investors and insurers to homeowners and the unemployed." Taibbi describes how the Bush and Obama administrations have repeatedly propped up the financial institution, which received a $45 billion taxpayer bailout in 2008. Bank of America has also received billions in what could be described as shadow bailouts. The bank now owns more than 12 percent of the nation’s bank deposits and 17 percent of all home mortgages. Taibbi also recounts how fraudulent practices by Bank of America and other companies ravaged pension funds. "Most people think of [the mortgage crisis] as some airy abstraction — you know, bankers ripping off bankers," Taibbi says. "That’s not what it is. It’s bankers stealing from old ladies and retirees." [includes rush transcript]

  • Matt Taibbi on the Explosive Resignation of Goldman Sachs Executive Greg Smith

    Button-taibbi-headshot

    Financial reporter Matt Taibbi talks about Goldman Sach’s history of denigrating its own clients, as recently highlighted by former Goldman executive Greg Smith’s explosive resignation letter in the New York Times. Decrying what he called Goldman’s "toxic" culture, Smith said bosses at the firm called their clients "muppets" and strove to maximize profits at the expense of client interests, adding: "It makes me ill how callously people talk about ripping their clients off." Goldman Sachs is now reportedly scanning internal emails for the term "muppet" and other evidence that employees referred to clients in derogatory ways. "This gives ... people in the industry, institutional investors, tremendous pause: why would I want to do business with this company if this is their attitude towards me?" says Taibbi. "They’re thinking how much can they get out of me, and not how much money they can make for me." [includes rush transcript]

  • NAACP’s Ben Jealous: Justice for Trayvon Martin Begins with Killer’s Arrest, Police Chief’s Ouster

    Trayvon-martin_hoodie2

    The parents of Trayvon Martin, the unarmed African-American teenager shot dead a month ago, addressed thousands at a "million hoodie" march in New York City calling for the arrest of his killer. Meanwhile in the Florida town where the murder took place, the Sanford City Commission cast a 3-to-2 no-confidence vote in the police chief. Legislators are talking about changing the state’s gun laws as George Zimmerman, Trayvon Martin’s killer, remains free. We speak with NAACP President Ben Jealous, who is in Florida to help call for justice in Martin’s killing. In addition to calling for Zimmerman’s arrest and prosecution for murder, Jealous says the Sanford police should be investigated and their police chief fired. "[There] appears to be a pattern and practice of discrimination and bad treatment of people of color by this [police] department," Jealous says. "This case has been so grossly mishandled that this chief has lost the faith of thousands upon thousands of parents and families and people in this town, who simply feel like they or their children are not safe as long as this department is [led] in such a misguided way." [includes rush transcript]

  • Bill McKibben: Winter Heat Wave Underscores Need for Obama to Reject, Not Fast-Track, Keystone XL

    Button-pipeline

    As President Obama heads to Oklahoma today to announce the fast-tracking of the southern portion of the Keystone XL oil pipeline from Oklahoma to Texas, we speak with 350.org’s Bill McKibben. The pipeline approval comes two months after Obama rejected a proposal for the 1,300-mile Keystone XL pipeline from the Alberta tar sands oil fields to Texas after large protests by environmental groups. It also comes at a time when much of the nation is experiencing a heat wave that some scientists and meteorologists have linked to climate change. Spring only began on Tuesday, but it has felt like summer this week throughout much of the Northeast, Midwest and parts of Canada. Record temperatures have been recorded in Chicago, Detroit, Cleveland, Indianapolis and Buffalo and many other cities and towns. Some 36 states set daily high temperature records last Thursday. [includes rush transcript]

Recent Shows More

Full News Hour

Stories