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Friday, January 11, 2013

  • "Failure of Epic Proportions": Treasury Nominee Jack Lew’s Pro-Bank, Austerity, Deregulation Legacy

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    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." [includes rush transcript]

  • Matt Taibbi & William Black on Bailout Secrets & How New Foreclosure Deal Spares Banks from Justice

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    Four years after the massive bailout that rescued Wall Street, we look at the state of the financial sector with Rolling Stone’s Matt Taibbi and former financial regulator William Black. In a new article for Rolling Stone, Taibbi argues the government did not just bail out Wall Street, but also lied on the financial sector’s behalf, calling unhealthy banks healthy and helping banks cover up how much aid they were getting. The government’s approach to the banks came under new scrutiny this week after it reached an $8.5 billion settlement for improprieties in the wrongful foreclosures on millions of American homeowners, including flawed paperwork, robo-signing and wrongly modified loans. The settlement will end an independent review of all foreclosures, meaning the banks could be avoiding billions of dollars in further penalties, in addition to criminal prosecution. [includes rush transcript]

  • Three Years After the Quake, How the World Came to Save Haiti and Left Behind a Disaster

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    Three years after the devastating earthquake in Haiti, we’re joined by Jonathan Katz, author of "The Big Truck That Went By: How the World Came to Save Haiti and Left Behind a Disaster." The earthquake on January 12, 2010, ultimately resulted in the deaths of roughly 300,000 people and left more than 1.5 million homeless in what was already the poorest country in the Western Hemisphere. A cholera epidemic, widely blamed on international U.N. troops, killed almost 8,000 people, making more than half a million sick. Today, despite pledges of billions of dollars in international aid, rebuilding has barely begun, and almost 400,000 people are still living in crowded camps. After four years of reporting in Haiti, Katz joins us to discuss where the reconstruction effort went wrong. [includes rush transcript]