Bill Moyers, Matt Taibbi and Yves Smith on Big Banks

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Rolling Stone editor Matt Taibbi and Yves Smith, creator of the finance and economics blog Naked Capitalism, join Bill to discuss the folly and corruption of both banks and government, and how that tag-team leaves deep wounds in our democracy. Taibbi's latest piece is "The Scam Wall Street Learned from the Mafia." Smith is the author of ECONned: How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism.
Bill Moyers is back! Check your local listings for air times:
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[@TheJenimarie]

Still relevant today. I'd love to see Matt and Yves do another version of this discussing the market today and potential futures.

[@tippersnore4012]

Moyers is a national treasure.

[@etniks69]

+Tippersnore -- I used to like Moyers but he is part of the problem. I am actually surprised to see him again discussing the bankers frauds because he has reacted in his website as supporter of their misdeeds. He deleted comments from me in his website pointing out the Debt-Based Money fraud taking place while banskters produce the Money Supply while offering loans. When I again made comments on this regard he simply deleted my account, and I was stopped from placing any more comments. That;s how much Moyers protects his Bank Sponsors paying him to advertise.

[@johnnybizaro1]

etniks That happened to my commentary on MSNBC and other sites. My comments got deleted when I pointed that the government went against it's own advice on bail ins.

[@mjfitzwater2915]

No, Matt Taibbi is.

[@Mapleneckguitar]

Matt Taibbi is my new American journalistic hero. I am so happy to know that he is out there getting to that a ll important true and honest bottom. Keep it up brother and i'll keep looking towards the news stand for your name...

[@CaliforniaGirl-qk5kq]

It is Thanksgivings 2019. And Mr. Dimond is still there. No change during 10 years.

[@juliettedemaso7588]

Yep. And I’d argue it’s even worse now. The American public is well trained to idol worship the BadDaddy, to “love” that which makes them feel small and powerless, with the broken wish that pleasing Vader will grant them some fallen crumbs, or protection from status embarrassment. Stand behind the jerk because those in front of him, resisting him, are targets.

[@phyllisneal8687]

LOVE Bill Moyer💞 ALWAYS interesting & interesting guests. Thank, Biil❗

[@jamescolyn5960]

Stunningly brilliant explanation / overview by these 3 heroes. I read a lot about what's how the banksters have been shafting the country ... no, the world, but still learned a lot from this short interview. Mail it to any of your friends who may want to know this, and even to a few who don't have a clue. People are being victimized and becoming angry, so the best thing to do is educate them. And wouldn't it be great if Bill did get Matt and Yves back on his show for more discussion and insight

[@tabletalk33]

Outstanding interview! This is the unfortunate news that Americans need to hear.

[@thodal2000]

I love all three of you! Keep up the good fight. We will win before it's over. The man on the street knows the score. Eventually they will want to settle it.

[@DanielleA2023]

good work matt!!!!! shared this post on twitter!!

[@weston.weston]

Bill Moyers presents with so much class, I ❤ this as a model.

[@whitelighthouse]

22.48 "Trade councils in Australia, I mean real know-nothings" - Hey!

[@MrsBStacyBattleBorn]

There is a natural tendency in me to question authority figures. As a child this got me into trouble. But as a child I could see when authorities were wrong, and I can still see it today. We are told by those with authority that we are to respect them, However they don't earn it and they are not entitled to it.

[@jaygatsby3039]

No gods, no masters 👌

[@jaroddunbeck5893]

How did I miss this show for so long? 😓

[@grandpa5508]

He appeared before congress to put on a show nothing more... how can our leaders question or investigate banks when they are all in their pockets

[@kathleankeesler1639]

Thank you Mr Moyers + company. Purple state, Kate

[@terriej123]

"Could it happen here?" The answer is YES. It's happening in 2017.

[@phyllisneal8687]

Try February 2020 & the FQNG FASCISTS have taken over.

[@idaquesada9281]

Can someone explain how the National debt is going to be paid? This is scary!

[@Larkinchance]

This file is 7 years old. It is certainly good for research but why are so many very old videos push up on my daily roster?

[@rd264]

One question not yet pursued and answered is why did so many big pension funds and investors buy huge chunks of bad debt from Citibank and other slimy big banks solely according to these guys on the basis of some hokey AAA rating? Did they really do so without a due diligence review of the debt offering which would require more than a cursory review of a balance sheet? Are these fund buyers not liable for gross negligence and breach of trust etc? Where are the public interest lawsuits? Are these pension fund buyers not insured such that the screwed pensioners and shareholders etc are made whole thereby?

[@ytgv3fc7]

Nationalized banks do no better - banks should have no bailouts, no nationalizing and no central control. Currency itself should not be government controlled and no region should be forced to a single currency at any time

[@americancivicsinstitute9546]

EXCELLENT

[@barberSaves]

The vast majority of his pieces are available only through his free blog, the magazine pieces are usually available for free online the same day (or shortly there after). Maybe he's trying to sell books, but the print magazine hasn't been his chief outlet in some time. Banks have not been making risky bets with federally insured money- that started in the 80's and became rampant with the repeal of glass steagal, but you probably know this

[@OB17358]

Now Dimon is taking his Wall Street bank JPMorgan (BOA) into the shell game of bitcoin.

[@S2Cents]

Email 'em. Email Bill Moyer's show.

[@CosmosPrivateer]

Carl Rove in an interview with Esquire regarding how the world works, Quote "That's not the way that the world really works anymore. We're an empire now. When we act, we create our own reality. While you are studying that reality, judiciously as you will, we'll act again creating other new realities, which, you can study too and that's how things will sort out. We're history's actors and you, all of you, will be left just to study what we do" That’s the way it is folks, its their story.

[@jrrymia]

A girl I know worked for Shearson Lehman years ago and she said there was one broker there who everyone said was in the mob.

[@U2GuitarTutorials]

Keep up the great work Matt an Yves. One of the key problems is the money in politics. The banks have our politicians bought. And many in Congress are just not that smart. There are people in banking that are good people and many services are legit. But the too big to fail mentality has to go. We have to break up the banks, put simple capital constraints in place and then never bail them out. Let the market determine who survives. Congress is also to blame here.

[@l-y-d-s]

The problem is that the corruption in our current system is always one step ahead, maybe it always was but now its finally noticeable. Will we ever be able to catch up and then keep up? No, things will only get worse from here until a reset button of some kind is pushed allowing the public yet another chance to get things right.

[@littlestbroccoli]

From 2022.. hope that reset button has been pushed bc idk how much more should be needed

[@thodal2000]

There is no need for violence at this point. most likely ever. That talk plays into their hands.

[@robvh2]

Sociopaths? Absolutely.

[@LetterToVoltaire]

just type in NakedCapitalism and you should get her website, her and her colleagues host a "links" section and a paraphrased Links section that displays daily news state by state and issue by issue. I read her and glenn greenwald everyday. Let me know if you want anymore information! Thank you for the interest!

[@blazehok]

Nationalize them

[@LetterToVoltaire]

What you can't rely on good sir, is for the public to have a memory about such cases.

[@k4nc3r]

Dems and Republicans are almost equally complicit on this. Don't act like either party isn't in the pocket of Big Banking.

[@thetawaves48]

google: "anger at banks in 1930."

[@TheRealPlato]

anyone else's audio fkd up?

[@lindalucas6318]

GOOD ON YOU FOR DARING TO TELL THE TRUTH, WHERE ON EARTH ARE THERE DECENT PEOPLE TO TACKLE THIS HUGE PROBLEM THAT SEEMS TO BE IGNORED BY THE POWERS THAT COULD DO SOMETHING CONSTRUCTIVE..TOO SAD TO BE REAL, ONLY IT IS AND IT'S EVERYWHERE!!

[@TheEthanwashere]

Good old american exceptionalism.

[@hampusheh]

You haven't heard of Yves? Nakedcapitalism is great.

[@thodal2000]

There is no need to fight when non participation is 10x more effective.

[@LetterToVoltaire]

Never heard of Yves? Where have you been?

[@lindalucas6318]

YVES SMITH IS SOMEBODY WHO I WANT TO HEAR FROM IN AUSTRALIA AND ALL THE OTHER PEOPLE, AUSSIES NEED TO KNOW!! I AM POSITIVE THAT POWERFUL PEOPLE WHO LIVE HERE DO KNOW, SUCH IS THE CLUTURE OF CORRUPTION IT IS A WORLDWIDE PROBLEM. I THINK WE ARE IN BIG TROUBLE

[@lindalucas6318]

HARD TO KNOW THIS AND REMAIN CALM!! JESUS I NEED HELP!!

[@samueltractorton2088]

It kills me to watch this, the sham I was fed from all of this, and am still paying for today. Everyone made out like a bandit on my ass. And the system today is worse than ever.

[@Rhea303]

Criminals - that's what they are. God help us ....

[@eldebtor6973]

Both guests switch between mortgages being sold to "homeowners" and mortgages being sold to "investors". Those old cliches hold true: buyer beware.

[@vwr0527]

Luke Smith Homeowners take out mortgages with banks, and those banks turn those into CDOs and sell them in derivatives markets.

[@rd264]

at 20 mins bundled mortgage debts are rightly making people mad, but who took on the [later packaged] bad mortgages? It wasnt just sleazy bankers exploiting poor people; the poor people who took on mortgages or debt when they couldnt afford to---they are at fault too. But absolutely, Matt is a national treasure.

[@robgoren8628]

If we'd used the bailout money on actual homebuyers, we could have purchased every single house of everyone who'd defaulted or was underwater, and still had enough money left over to buy a house for every single American. Shady mortgage brokers, working with Wall Street, not only falsified thousands of documents, but deceived good credit buyers into taking more lucrative subprime mortgages. The finance sector is the parasite economy. Until the host rises up and kills the parasite, these bubble-induced heists will continue

[@parx24]

please....explain why these guys aren't being prosecuted!!!

[@sloburnjo]

666 likes how appropriate talking Wall Street

[@billypilgrim7838]

Ready for the next1?Bernie 2020

[@CazyDayz]

maybe this crash was about disbanding unions in the USA.

[@thefakenewsnetwork8072]

Long live eugenics

[@jrrymia]

Yves Smith is totally right. The banks are protected no matter what mistakes they make, because they know they are making mistakes (purposeful mistakes), and the setup is that, if the customer makes a mistake, the customer loses everything, instantly. Never sign a mortgage without reading it, as most people do. The banks don't even try to be sneaky (if they think you're dumb), usually. The set-up is in writing, for anyone to see. That's why they get away with so much of it, I guess.

[@chestypants78]

People in Jefferson County have to choose between electricity, water and sewer? I thought this was America! Sounds like Africa. WTF? (I live in Europe)

[@LetterToVoltaire]

Agreed, but why are you blaming them for reporting on corruption? In all honesty shouldn't WE be contacting them with this information and informing them, instead of commenting online? They are pointing out the corruption of the SYSTEM, the people who run it and perpetuate the fraud, waste and abuse of our legal tender.

[@LetterToVoltaire]

I get what Article 1 Section 8 says......a Dollar is a Federal Reserve Note.....which I use and you use everyday.....So, just to let you know, I'm all for ending the Federal Reserve, I'm all for breaking up these banks.......but the real question is.....why doesn't anyone take you seriously? Because you think it's the 19th Century, that's why.........

[@lindalucas6318]

How come Australians don't kknow about this? Nobody watching utube it would seem!!

[@thefakenewsnetwork8072]

Long live eugenics and communism

[@littlestbroccoli]

"... the kind of thing that happens when people get pushed... in a country full of guns" hmm 🤔

[@erebody]

That comment preceded with a populist movement prediction was a chef's kiss

[@SpaceExplorer]

wow u super mad bro

[@kenrai101]

don't pretend that democtrats don't do it too

[@JagzRevolutionary]

why doesnt bill moyers interview chomsky again wtf?

[@macedindu829]

Oy vey.

[@lindalucas6318]

A BIG F---NG LIE, HATE TO SWEAR BUT THIS IS TOO CRAZY FOR WORDS!!

[@kenbranaugh8251]

All talk no action. KZbin is just another video game too. Might as well not even post this. Good luck suckers.

[@pg1525]

Wow, Taibbi sure knows how to alter the facts to stir up unfounded rage... I can't believe people actually fall for this. Go discover the facts people.

[@wotmot223]

I've spent the last 3 years "discovering the facts" pray tell, if you have some source of information that will make all clear, post it.

[@Davidthorough]

Can you specifically disprove with facts anything substantial Taibbi puts forth in this interview?