Financial Meltdown Topics

Democracy Now! stories, posts and pages that relate to Financial Meltdown

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"You Got Bailed Out, We Got Sold Out" - Thousands Protest on Wall Street

Thousands of people turned out for a protest on Wall Street Thursday to denounce the taxpayer-funded bailout and the role of large financial firms in the nation’s economic crisis. A coalition of union and community groups organized the march as the Senate opened debate on a measure to overhaul financial regulation. [includes rush transcript]
Apr 30, 2010 | Story
Goldman Execs Grilled over Role in Inflating Housing Bubble and Then Betting on Collapse

Executives from the bailed-out Wall Street giant Goldman Sachs faced tough questioning on Tuesday at a Senate hearing on their role in the financial crisis. Current and former Goldman officials were grilled on their aggressive marketing of mortgage investments at the same time the firm was betting the investments would fail. We play highlights and speak with investigative journalist Greg Gordon of McClatchy Newspapers and former economist at the...
Apr 28, 2010 | Story
"Plunder: The Crime of Our Time" - Danny Schechter Takes on Wall St. in New Film

We speak with investigative journalist, filmmaker and author Danny Schechter, "the News Dissector." His latest film features interviews with industry insiders to reveal how the financial crisis was built on a foundation of criminal activity. It’s called Plunder: The Crime of Our Time. [includes rush transcript]
Apr 28, 2010 | Story
"Looting Main Street" - Matt Taibbi on How the Nation's Biggest Banks Are Ripping Off American Cities with Predatory Deals

In a new article in Rolling Stone magazine, journalist Matt Taibbi takes an in-depth look at the experience of one small Alabama town and its disastrous dealings with Wall Street. Taibbi writes, "The destruction of Jefferson County reveals the basic battle plan of these modern barbarians, the way that banks like JP Morgan and Goldman Sachs have systematically set out to pillage towns and cities from Pittsburgh to Athens." [includes rush...
Apr 12, 2010 | Story
Will Proposed Financial Regulatory Overhaul Actually Reform Wall Street?

With the main healthcare reform bill signed into law, Democrats say congressional efforts to reform Wall Street and the nation’s financial regulatory system will soon top the Obama administration’s agenda. A measure put forward by Sen. Christopher Dodd is being described as the biggest overhaul of financial rules since the 1930s, but critics have faulted the proposal for giving additional power to the Federal Reserve while gutting...
Mar 25, 2010 | Story
Michael Moore: Healthcare Bill "A Victory for Capitalism"

President Barack Obama is signing the main healthcare overhaul bill this morning at a White House ceremony. We speak with Academy Award-winning filmmaker Michael Moore. "The healthcare bill that was passed ultimately will be seen as a victory for capitalism," Moore says. "It protected the capitalist model of providing healthcare for people — in other words, we are not to help unless there is money to be made from it."...
Mar 23, 2010 | Story
Nobel Economist Joseph Stiglitz on Obama's Stimulus Plan, Debt, Climate Change, and "Freefall: America, Free Markets, and the Sinking of the World Economy"

As President Obama defends the success of his one-year-old $787 billion stimulus package, we speak to Nobel Prize-winning economist Joseph Stiglitz, who says the stimulus was both not big enough and too focused on tax cuts. Stiglitz is the author of the new book Freefall: America, Free Markets, and the Sinking of the World Economy, which analyzes the causes of the Great Recession of 2008 and calls for overcoming what he calls an "ersatz capitalism"...
Feb 18, 2010 | Story
Move Your Money: Project Urges People to Transfer Money Out of Nation's Largest Banks Into Local Community Banks

Economist Robert Johnson, columnist Arianna Huffington and filmmaker Eugene Jarecki, among others, have come up with a new proposal that would allow ordinary people in this country to channel their anger over the Wall Street bailout while also helping invigorate community banking. We speak with Rob Johnson about Move Your Money. [includes rush transcript]
Jan 04, 2010 | Story
Eliot Spitzer: Geithner, Bernanke "Complicit" in Financial Crisis and Should Go

In an extended interview, we speak with former New York governor Eliot Spitzer about the financial crisis and how it was handled by Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner. Bernanke and Geithner "actually built and participated in creating the structure that now has collapsed," Spitzer says and calls on them to be replaced. Spitzer also talks about the scandal that erupted last year that forced him...
Dec 04, 2009 | Story
How Wall Street and Its Backers on Capitol Hill Silenced a Critic Calling for Greater Regulation of Derivatives

Last month, when the a subcommittee of the House Financial Services Committee held a hearing on the derivatives market, Robert Johnson was the only non-industry expert invited to speak. The former economist at the Senate Banking Committee and the Senate Budget Committee was invited just sixteen hours before the hearing. His testimony was cut short after five minutes by Congresswoman Melissa Bean, and the committee has since refused to post online...
Nov 02, 2009 | Story